MOOMBA GAS FIELD

220 The Hon. D.G.E. HOOD (25 March 2009). Can the Minister for Infrastructure advise—

1. Is the Moomba gas field still expected to be depleted by 2016?

2. If not, when is the estimated time that the Moomba gas field will now be depleted?

3. Is it projected that South Australia will have any natural gas resources in production at the time when the Moomba field is depleted?

The Hon. P. HOLLOWAY (Minister for Mineral Resources Development, Minister for Urban Development and Planning, Minister for Small Business):

1. Gas fields in the South Australian sector of the Cooper Basin, of which the Moomba Gas field is one, will not be depleted by 2016.

2. Based on current estimates of discovered proven and probable gas reserves in these gas fields, depletion to sub-economic rates based on current gas prices and technology is not expected until sometime beyond the year 2030.

3. It is anticipated that South Australia will have producing natural gas resources when current producing fields become depleted. Subject to future gas prices and technological advances, future natural gas resources are likely to include resources which are currently classified as contingent, including 'tight gas' and 'shale gas' resources. As at the end of 2008, contingent reserves for the South Australian Cooper Basin within Santos operated Petroleum Production Licences are estimated to be in excess of 6 trillion cubic feet, approximately equivalent to the Basin's proven and probable gas reserves. AGL has recently negotiated a position in Petroleum Exploration Licences to explore for coal seam methane outside of the Petroleum Production Licences held by Santos. That position plus considerable gas reserves and resources in Queensland connected to SE Australian markets with existing pipelines bodes well for competitive gas supplies for SE Australia, including South Australians, for decades to come.