Oil reserves of a value of some $20 trillion have reportedly been found in South Australia, the company Linc Energy, which has the rights and makes extractions in the area) announced at the Australian Stock Market.
Chief Executive Officer and Managing Director Peter Bond, said: “Even in the worst case, it is the largest oil field in Australia.” He, also, added that the project requires an investment of $300 million.
Minister for Mineral Resources and Energy, Tom Koutsantonis was more restrained and said: “It’s too early to know the quantities of the reserves and the value of the oil extraction.”
New deposits were found around the small town of Coober Pedy in South Australia, which is the only region in the world where opal mining projects are in progress. Greeks are said to be the first to discover this treasure. In Coober Pedy there are still many Greeks working in the mining of this precious stone.
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
