The South Australian budget will enhance the State’s attractiveness for onshore oil and gas investment.
APPEA Chief Operating Officer Western Region Stedman Ellis said the State‘s strong reputation amongst oil and gas companies had been boosted.
“The respected Fraser Institute Global Petroleum Survey consistently ranks South Australia as the most attractive Australian state for oil and gas investment and this budget builds on that already strong reputation,” Ellis said.
“The South Australian economy is set to benefit from the State Government’s commitment to new training opportunities and exploration incentives. The new Onshore Petroleum Centre of Excellence training facility at Tonsley is strongly supported by industry and will help develop and maintain the skilled workforce required here in South Australia and elsewhere.” he added.
“The deferral of royalty payments for shale and tight gas projects should help accelerate investment and job creation in what is potentially a significant new industry.” remarked Ellis.
Press Release, June 20, 2014