QER is well advanced in the design of a commercial facility next to its existing pilot plant. The $billion+, 10,000 barrel/day project will still be small by oil industry standards.
However it will demonstrate the viability of a single, commercial scale production train which will be repeated many times in a full scale commercial project. “Cracking that nut” will unlock the potential of Queensland 20 billion barrel resource.
Stage 3 of QER’s Gladstone operation would be up to 70,000 barrels per day – close to an $8billion project.
Ultimately, the Gladstone resource alone could support expansion to around 200,000 barrels per day, helping to secure a significant part of Australia’s future heavy transport needs.