Queensland company Senex is the preferred tenderer for the first major gas project in the Surat Basin to produce for supply for domestic consumption only.
Queensland mines minister Anthony Lynham made the announcement to state parliament on Tuesday, telling MPs it would generate about 150 jobs.
Senex now has to negotiate land access agreements and fulfil all existing environmental and native title requirements before work can commence.
Chief executive Ian Davies expects contracts and approvals will be obtained next year, ahead of supply in 2019.
Senex plans to invest more than $200 million to drill about 100 wells and build supporting infrastructure.
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