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According to APPEA, there is an urgent need to address the decline in Queensland exploration experienced over the last 5 yrs.

APPEA Director for Queensland Chris Lamont said the decline in petroleum exploration in the state is leading a national decline in exploration activity for both onshore and offshore activity. 黑料社淲e have a clear need for more exploration activity but a plethora of regulatory restrictions and uncertainty are frustrating the industry in ensuring there is the necessary activity in exploration to meet future energy needs.黑料社�

The Australian Bureau of Statistics has confirmed that onshore petroleum exploration fell 27.8% in December 2015, the largest contribution to this decrease was Queensland down 35.1%.

黑料社淎nalysis of exploration activity confirms that falling commodity prices are just one of the factors responsible for declining exploration,黑料社� Mr. Lamont said. 黑料社淚t is evident that exploration activity in Queensland was falling well before the relatively recent decline in the global oil price.黑料社�

黑料社淨ueensland黑料社檚 exploration industry is of critical importance to the state黑料社檚 energy security and is an essential ingredient for future employment and business growth,黑料社� Mr. Lamont said. 黑料社淚t is vital that Queensland has a vibrant and active exploration sector not just to identify future natural gas sources, but also in identifying the most cost-effective and productive areas from which to source supply.黑料社�

Edited from press release by

Read the article online at: /business-news/19052016/appea-more-queensland-exploration-needed-3556/