THE BRUMBY Government and CSIRO have agreed to reduce exploration risk and attract new investment and jobs for exploration in Victoria.
Energy and Resources Minister Peter Batchelor said that under the new three-year collaborative agreement, the CSIRO and the Victorian Department of Primary Industries would share information, data, technology and expertise.
Batchelor says that finding new energy reserves and potential geological carbon storage and geothermal resources is a challenge of national importance and the Brumby Government is taking action to encourage investment and create jobs in regional Victoria.
Batchelor says that the combined complementary skills, expertise, facilities and background are expected to lead to an increased understanding of energy resources, which will attract industry to invest in Victoria. He says that while the Victorian Government and CSIRO have previously shared information, expertise and technology, formalising the arrangement will mean projects are jointly resourced by both organisations, significantly increasing the ability to solve geological problems.
One major study under the agreement will address the hydrology of the Gippsland Basin, including how water in the basin moves, how the water bodies offshore and onshore are linked and examine the potential for carbon capture and storage in the Basin. Other studies will examine a wide range of other energy-related issues, such as work to better understand of how petroleum is generated and trapped and how geothermal resources can be best developed.
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