The State Government has signed a land sale agreement with Chevron to open up housing lots in a new estate in Onslow to support the oil and gas giant's $29 billion Wheatstone LNG project.
Chevron has agreed to buy 50 lots and a 9ha site within the estate.
The company's commitment to the sale will enable LandCorp to begin work on 220 lots in stage one of the estate, providing new land for housing in the rapidly growing town.
Mr Barnett said the agreement was a positive example of how the State Government was working with resources companies to secure benefits for the broader community.
"Wheatstone and other resources projects are creating thousands of jobs in the area but have also increased pressure on existing housing stock in Onslow," he said.
"This agreement will help ease pressure and ensure that small businesses and locals have access to suitable accommodation."
Mr Redman said resources activity around Onslow was expected to increase the town's population from about 700 people to 2200 in the next three years.
The Wheatstone project is expected to create more than 6500 direct and indirect jobs.
It is the first major land release in Onslow in 20 years.
Lots are expected to be released by LandCorp for sale by the middle of the year.