AusBN - The state government of South Australia has paid nearly AUS$1 million towards oil and gas firm Strike Energy’s Cooper Basin project, in an agreement which will see it shift the location of its head office.
Strike received $990,000 from the government’s economic investment fund to bring its head office to Adelaide from Sydney, which will create 85 jobs in South Australia.
The money will go towards the commercialisation of the ASX-listed company’s Cooper Basin gas project, a ‘world-scale’ coal-seam gas resource according to the firm.
Managing director Stuart Nicholls said: “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.”
The state’s Mineral Resources Minister Tom Koutsantonis said the move confirms how South Australia is set to become the centre of the nation’s gas industry.
“The Cooper Basin, where Strike is focusing much of its exploration efforts, is considered Australia's most prolific onshore oil and gas region,” said Koutsantonis.
“Gas is essential for industry, and it is also key to driving down power prices across the country.”