Australian oil and gas explorer Senex Energy has won the right to develop a new gas field in Queensland and aims to start production within two years, according to Reuters.
Queensland’s state government offered the acreage, which lies in the Surat Basin, free of charge earlier this year on the condition that the gas produced would be used to supply the east coast market, which is facing potential shortages from 2019.
Senex plans to spend $160 million to develop the field, which is estimated...
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