The O2 cylinders on the 747-400 I worked on were mounted in the roof of the forward cargo bay, well forward of this area.
The cargo fire bottles were mounted in the side walls also well forward of this area and if my memory serves me right, on the opposite side. The 747 I worked on was not a Qantas a/c but I don't think they are that different.
This fairing is held on by loads of screws of varing lengths. It is possible to put an incorrect length one into the fairing and for the tail of the screw to come into contact with the pressure hull and damage it. Boeing have issued several safety alerts warning of this saying that this could cause a fatigue failure in this area. Maybe??????????????????
Rgds Dr I