Innovation, community, sustainability – key to success for Cooper Basin explorer
A Brisbane audience of 50 investors and resource professionals has heard how an oil and gas explorer is developing its operations in Eromanga, 106 kms West of Quilpie, while endeavouring to increase economic development opportunities for the resource community it is part of.
Queensland Exploration Council Chair Kim Wainwright said the membership group QEC supports explorers on their pathway to production; and was proud to be supporting Bengal Energy in its innovative approach to transforming from an explorer to the Cooper Basin’s newest producer.
“Bengal Energy’s growth story is an excellent example of not just effectively exploring for oil and gas to achieve faster ROI; it’s also working with the community and its leaders to ensure the operations bring economic benefits to the region,” Ms Wainwright said.
“This is through the engagement of local contractors, collaboration with landholders and traditional owners, using existing accommodation facilities for its workers and working to introduce a carbon credit scheme around its tenures.
“Right now, there is a lot of importance placed on a resource company’s environmental, social and governance (or ESG) credentials and I must say, the social and sustainability examples shared here today are best practice ESG,” Ms Wainwright said.
Guest speaker Chayan Chakrabarty, CEO at Bengal Energy said the company was trialling innovative exploration techniques and experiencing success with its mobile ‘Roadrunner’ oil well testing technology, plus an early gas production system to unlock stranded gas resources.
“The roadrunner technology will see earlier testing of oil wells and optimising capital expenditure to right-size final equipment. The roadrunner will be available to other interested parties as a service for certain periods,” Mr Chakrabarty said.
“Our goal is to build an energy company with practical and innovative ESG credentials and one of our strategic advantages is how we engage, collaborate and integrate with the local communities where we operate.
“We want to make the best use possible of existing assets, equipment and of course existing facilities in the community, to bring maximum benefit to local businesses here in the region of Quilpie, while increasing shareholder value.
“We are engaging local contractors wherever possible and have created a number of jobs in the towns of Thargomindah and Eromanga during the current project phase.
“We have worked with the owners of Plevna Downs to upgrade the shearer’s accommodation and support their business which is usually occupied for only two months of the year. We currently have 6 team members staying at Plevna Downs, who are enjoying the new bedding, air-conditioning and great catering.
“We also have an exciting new endeavour to help fund a significant playground upgrade and new entrance at the Eromanga Natural History Museum (ENHM),” Mr Chakrabarty said.
Quilpie Mayor and ENHM Chair Stuart Mackenzie said the Quilpie Shire had always been a great supporter of its resource industries and was proud to be working with companies like Bengal Energy to ensure natural assets were kept protected at all times, while upgrades to the museum entrance and playground would help promote the area’s unique fossil, natural and cultural heritage and bring more visitors.
“Our museum is lucky enough to be showcasing fossils from Australia’s largest dinosaur and one of the largest ever found in the world. Improving the facilities at our iconic Eromanga Natural History Museum will provide people even more reasons to visit and discover the diversity of outback Queensland,” Mayor Mackenzie said.
The QEC Investment Showcase events are held quarterly and are free to attend. For more information on past presentations, visit QUREX Investment Insights, or email info@queenslandexploration.com.au to register for the next event.
Click here for photos from QEC Investment Showcase event 31 March 2022
