Victorian Minister for Resources Tim Pallas launched the report with Victoria’s Lead Scientist Amanda Caples at the Core Library in Werribee on Friday last week.
The key findings of the Progress Report were that onshore conventional gas volumes were around 0.1 Tcf (approximately 110 PJ), while offshore conventional gas volumes sat around 11.8 Tcf (approximately 10,738 PJ).
The onshore figures were sourced from Geological Survey of Victoria, while the offshore figures are from the National Offshore Petroleum Titles Administrator (NOPTA) and Geoscience Australia.
“Following the historic banning of fracking and coal seam gas extraction to protect farming, we have invested in science to produce a sound gas resource estimate and assessment of risks,” said Mr Pallas.
“Our approach is in contrast to the Turnbull Government and the Prime Minister for Sydney who continues to play politics on this issue and whose instinct is to drill and damn the consequences.
“That may be a Macquarie Street investment banker’s approach but it treats regional Victoria and their vital primary industries with contempt.”
The Victorian Government has committed $42.5 million to fund a comprehensive program of geoscience and environmental research.
This will produce a more rigorous and auditable assessment of Victoria’s onshore conventional gas resources, using existing core samples, 3D modelling and further drilling.
It will also further assess possible environmental hazards associated with gas extraction along with potential controls.
Victoria currently has a moratorium on onshore gas development until 2020, and permanently banned hydraulic fracturing in 2017.