The Queensland Government is accelerating new oil and gas resources and strengthening Queensland’s ability to produce its own fuel supply, with early drilling results exceeding expectations in the Taroom Trough.

The Taroom Trough is now widely recognised as having the potential to become Australia's first major new, significant oil province in more than 50 years, while also supporting the development of new gas resources.

Gas and 300 barrels of high-quality light oil a day are now being produced, with the scale of the opportunity in the vast exploration area emerging, as proponents undertaking exploration works in the basin are predicting billions of barrels of oil that could potentially be produced commercially.

Liquids being produced have gone directly back into the domestic fuel market.

While other Australian jurisdictions sit on their hands, the Queensland Government has been taking decisive action, with the release of five new exploration tenders in the Taroom Trough since coming to Government in 2024 as part of our land release program.

The Queensland Government is restoring Queensland’s fuel security under a plan to drill, refine and store fuel locally, with proponents committing more than $1.2 billion for exploration and appraisal activities.

The Queensland Government is backing this investment, with $11.9 million committed to the Taroom Trough Development Plan, a whole-of-basin framework to support orderly, efficient and responsible development, giving both industry and landholders certainty.

A further $7.1 million is supportingQueensland’s Future Fuels Program, including work to assess opportunities for additional domestic fuel supply, refining and fuel conversion options, and additional fuel storage and infrastructure resilience across the state.

TheResources Cabinet Committee is streamliningassessmentpathways for complex resource projects that underpin economic growth and regional development.

The Office of the Coordinator-General has also been working with local communities to understand their priorities, concerns and aspirations for the future development of the Taroom Trough.

Premier David Crisafulli said strengthening Queensland’s sovereign fuel capability was a critical part of our plan to deliver fuel security.

“Ongoing global instability has underscored the importance of Queensland being able to drill, refine and store its own fuel,” Premier Crisafulli said.

“Queensland is open for business and we’re working closely with industry to support new oil and gas exploration and production, because we must restore our ability to drill, refine and store fuel in our State.

“It’s still early days, but early exploration results have been overwhelmingly positive and we’re putting ourselves in a position tobe able to assist proponents to move quickly to fast‑track production where required.”

Treasurer and Minister for Energy David Janetzki said the Queensland Government was taking swift action for exploration in the vast Taroom Trough.

"We are focused on removing duplication, fast-tracking decisions and getting out of the way so industry can get on with the job, because we have no time to waste," Treasurer Janetzki said.

“Developing our own domestic oil resources like the Taroom Trough means Queensland can reduce its reliance on overseas supply chains, improve energy security and keep more value‑adding onshore.

“Building sovereign capability across the resources value chain will create jobs, strengthen regional economies and help ensure Queenslanders have access to reliable and affordable fuel well into the future.”

Head of Shell QGC Krishna Venkatesan said the Taroom Trough was key to supporting Queensland's energy security.

“We’re grateful for the Queensland Government’s partnership in unlocking the Taroom Trough resource, to support the future energy security of Queensland, and the nation," Mr Venkatesan said.

“We view the Taroom Trough as an exciting new domestic gas market and backfill opportunity, and our early results have been promising.

"We’ve committed to a large-scale exploration and appraisal program, and this year we have drilled three new tight gas lateral wells, commenced a staged well testing program that is already producing gas and liquids for the domestic fuel market, and completed Queensland's largest-ever 3D seismic survey program to map the basin.

"We were delighted to be granted additional exploration tenure in the Taroom Trough earlier this year and are progressing approvals to support future activities.”

Omega Oil & Gas Managing Director and Chief Executive Officer Trevor Brown said early drilling results were extremely positive and provided an exceptional opportunity for Queensland to provide energy security for Australia.

"The Taroom Trough has the potential to become one of Australia's most significant new energy provinces, and Omega is committed to working with the Queensland Government to responsibly unlock much-needed energy supplies and deliver lasting benefits for Queensland and Australia.

"Australia needs new domestic oil and gas, and this basin can be a big part of the answer. Every meter we drill makes me more confident about the Taroom Trough's potential to provide a solution to Australia's energy security challenges.

"This looks a lot like a multi-billion barrel, perhaps 10's of billions of barrels-equivalent oil and gas play, with many of the hallmarks of the most prolific unconventional basins in the United States.

"To put it in context, over 50 years Bass Strait has produced 7 billion barrels-equivalent and the Taroom Trough could be multiples of Bass Strait in size, and it's right here in Queensland bringing jobs and economic prosperity along with energy security for Australia.

"We particularly thank the Queensland Government for its strong and consistent support of the resources sector. The Queensland Government is demonstrating that our industry responds strongly when provided with policy certainty and opportunities to explore and develop."

Denison Executive Chairman Xingjin Wang said this was another exciting opportunity for Queensland.

“Denison sees extraordinary potential in Queensland’s deep gas and oil resources, and we’re focused on turning that potential into new energy supply for Australian customers,” Mr Wang said.

"We’ve already demonstrated what’s possible in the Denison Trough, where we’ve discovered enough energy to power Queensland homes for more than five years."

“Now, thanks to the Queensland Government's latest acreage release, we’re preparing to start drilling in the Taroom Trough next year with our joint venture partner OGT Energy, bringing our exploration and development expertise to another exciting opportunity for Queensland.”