Queensland Premier David Crisafulli is pushing for a return to domestic drilling, unveiling Australia’s first new oil field in half a century as part of a bid to strengthen long-term fuel security amid the conflict in the Middle East.
The site, located about five hours west of Brisbane in the Taroom Trough, is already producing small volumes, with the first barrels now entering Australia’s supply.
WATCH THE VIDEO ABOVE: Australia’s first oil field in 50 years opens in Queensland
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But Crisafulli is calling on the federal government to back the project and remove barriers to scale up production.
“It’s our golden opportunity to tap into liquid gold,” he said from the site.
He said the project had been in motion well before the latest global supply crisis, with tenders called in May last year.
“This is a once-in-a-half-a-century opportunity for us to control our own sovereign destiny again,” he said.
“I want to see a time in this nation when we return to drilling and refining and storing our own fuel.”
David Crisafulli unveils first oil field in 50 years. Credit: Sunrise
Crisafulli argued Australia’s reliance on imports has left the country exposed, saying the nation is “at the mercy of the end of a global supply chain”.
While current output sits at just a few hundred barrels a day, the Premier said it proves the concept and could be scaled up with federal support.
He also called for a national fuel supply dashboard and increased storage capacity, warning both should have been allowed to decline.
Federal Employment Minister Amanda Rishworth said the government would work with Queensland but cautioned the project would not deliver immediate relief.
“I think it would be wrong to suggest that this oil would be on the market tomorrow. It would be over probably many years before we actually see that come into production,” she said.
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Queensland Premier David Crisafulli is urging the Federal Government to support development of the Torom Trough oil field, located five hours west of Brisbane.
Queensland Premier David Crisafulli is urging the Federal Government to support development of the Torom Trough oil field, located five hours west of Brisbane.
Rishworth said the government’s focus remains on short-term measures, including reducing fuel excise and supporting consumers through rising costs.
Nationals Senator Bridget McKenzie backed the push to expand domestic production, saying Australia was too reliant on imports despite having resources available.
“We are highly dependent on imports of things that are actually under our feet,” she said.
While the project is unlikely to ease current fuel price pressures, Crisafulli said it could help protect Australia from future supply shocks similar to those seen during the COVID-19 pandemic.
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