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Breaking through to Australia's oil and gas future.



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Media Release

The Hon Ian Macfarlane MP Minister for Industry, Tourism and Resources

22 April 2002

BREAKING THROUGH TO AUSTRALIA’S OIL AND GAS FUTURE

The annual conference of the Australian Petroleum Production and Exploration Association will be addressed by the Commonwealth Minister for Industry, Tourism and Resources, Ian Macfarlane, tomorrow morning.

Almost 1000 delegates from the oil and gas industry have gathered in Adelaide for the 42nd conference of the country’s oil and gas producers and explorers.

It will be Mr Macfarlane’s first opportunity to outline the challenges and opportunities confronting the industry and the reform he will be working towards as the minister for this vital sector of Australian business.

Current issues as raised by the APPEA conference include: the need to further identify and develop Australian reserves; ways to stimulate greater mineral exploration; possible changes to the petroleum resource rent tax and development of new and alternative energy products, such as the gas-to-liquid technology.

Mr Macfarlane will also use the opportunity to officially announce the release of 41 new areas for petroleum exploration around Australia.

This will be the principal release of offshore acreage this year with any subsequent exploration permits being awarded for an initial term of six years.

Mr Macfarlane will speak from 0830 tomorrow (Tuesday) at the Adelaide Convention Centre, North Terrace. He will be available for interview immediately afterwards at the same venue.