Gas exploration company relocates to Adelaide to strike it rich in the Cooper Basin
ASX-listed oil and gas exploration company Strike Energy announced plans today to relocate its corporate office and headquarters from Sydney to Adelaide, creating 85 new full-time jobs in the State’s resources industry while reinforcing its reputation as the focus of the national gas sector.
With the company’s primary focus being the rapid commercialisation of a world-scale gas resource in South Australia’s Cooper Basin, Adelaide presented an ideal choice to base its head office. The relocation will see the creation of approximately 45 FTEs based in Adelaide and 40 FTEs based between Adelaide and the company’s Moomba operations by 2021.
The South Australian Government will contribute $990,000 to support the job creation project via the Economic Investment Fund.
Strike Energy is an independent oil and gas exploration company that listed on the Australian Stock Exchange in 2004. Strike is pioneering the commercialisation of an industry-first, deep coal seam play that will unlock a significant gas resource. Upon commercialisation, this resource is anticipated to become an asset of national interest. Strike has exploration permits and applications over approximately 2.3 million net acres (approximately 9232 square kilometres) within the Cooper and Eromanga Basins.
Minister for Investment and Trade Martin Hamilton-Smith said yet again, Investment Attraction South Australia has played a key role in securing this investment and has worked tirelessly with Strike Energy to facilitate the relocation project.
“This investment is the 20th project the agency has secured since opening its doors less than two years ago,” Minister Hamilton-Smith said.
“I’m very proud to report that this project sees the agency surpass its key target of 6000 jobs created by the end of 2017. What an enormous achievement and a credit to everyone involved.”
Minister for Mineral Resources and Energy Tom Koutsantonis said South Australia is becoming the centre of the nation’s gas sector and to have a company of the calibre of Strike Energy relocate its headquarters to Adelaide is further proof of this.
“Our State is leading petroleum transformation in Australia, thanks to the right geology, policy innovation and excellent investment and regulatory frameworks. The Cooper Basin, where Strike is focussing much of its exploration efforts, is considered Australia’s most prolific onshore oil and gas region and is recognised globally for its untapped gas potential,” Mr Koutsantonis said.
“Gas is essential for industry, and it is also key to driving down power prices across the country. That’s why the State Government is helping companies, including strike, extract more gas to supply to local generators through our PACE gas grant program.”
Strike Energy Managing Director, Stuart Nicholls said the South Australian Government has been one of Strike’s greatest supporters.
“The move to Adelaide is both strategic and pragmatic as Strike begins to accelerate its growth ambitions and progress investment in its Southern Cooper Basin Gas Project,” Mr Nicholls said.
“The award from the Economic Investment Fund shows the commitment of the South Australian Government to support further energy security through making South Australia a key focus for Strike’s business. Strike believes that it will benefit significantly from its relocation to Adelaide by bringing its decision making to the source of the information.
“Strike looks forward to supporting further government initiatives and not only generating employment in the short term, but rebuilding natural gas as an affordable, abundant and reliable source of energy for South Australia.”