<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Three </span><a href="https://www.9news.com.au/energy" rel="" target="" title="energy companies"><span>energy companies</span></a><span> have been granted exploration rights for a huge site in </span><a href="https://www.9news.com.au/queensland" rel="" target="" title="Queensland"><span>Queensland</span></a><span>, which could pave the way for Australia's first major oil find in 50 years.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>State Minister for Natural Resources and Mines Dale Last says the Taroom Trough, about 300km west of Brisbane, offered "serious potential to revitalise a domestic oil production industry".</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"This new exploration area is a critical step in boosting Queensland's domestic energy supplies to put downward pressure on energy prices," he said yesterday.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/cost-of-living-housing-crisis-to-blame-australia-birth-rate-dropping/3920c79b-1c85-4034-a750-d2f4703261c8" rel="" target="_blank" title="Energy bills and housing insecurity blamed for Australia's falling birth rate"><strong><span>Energy bills and housing insecurity blamed for Australia's falling birth rate</span></strong></a><span></span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The 750 square kilometre exploration area – about the same size as Singapore - forms part of a wider package of exploration areas opened for tender last year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Exploration rights to drill for oil and gas have been awarded to energy firms Omega TN Pty Ltd, Tri-Star Stonecroft Pty Ltd, and Drillsearch Energy Pty Ltd.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Australian households and businesses would be prioritised for any gas discoveries at Taroom Trough, as per the Australian Market Supply Condition, the state government says.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/first-major-australian-oil-province-in-50-years-taroom-trough-open-up/35a25756-6617-4a10-974f-ae2ecda51bde" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Australian Energy Producers, which represents oil and gas producers, says the move has the potential to unlock the country's first major new oil province since the 1970s.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Opening up new basins like the Taroom Trough is essential to securing Australia's next wave of oil and gas supply," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It sends a strong signal Queensland is open for business and serious about attracting the investment needed to support regional jobs and future energy security."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>NEVER MISS A STORY:</span></em></strong><span> </span><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><strong><em><span>Download the 9NEWS App here via</span></em></strong><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="_blank"><strong><em><span>Apple</span></em></strong></a><span> </span><strong><em><span>and</span></em></strong><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" target="_blank"><strong><em><span>Google Play</span></em></strong></a></li><li><strong><em><span>Make 9News your preferred source on Google by</span></em></strong><span> </span><a href="https://9.nine.com.au/8x987w" target="_blank"><strong><em><span>ticking this box here</span></em></strong></a></li><li><strong><em><span>Sign up to</span></em></strong><span> </span><a href="https://login.nine.com.au/edm?client_id=nineatnine" target="_blank"><strong><em><span>our breaking newsletter here</span></em></strong></a></li></ul></div></div>