The oil and gas industry association said the Northern Territory’s Beetaloo Sub-basin had significant potential as a gas resource and job creator.
Last week, the Australian Petroleum Production and Exploration Association (APPEA) said developing the Northern Territory’s gas resources in the Beetaloo Basin could create up to 6,300 new long-term jobs.
APPEA NT Territory Director Cassy Schmidt said project are only in the exploration phase, but if found to be economically viable, it would mean tens of thousands of jobs for the NT.
“Beetaloo could potentially provide 6,300 full time jobs, a $1 billion increase in revenues projected to the NT Government over the period 2020-2040 and $22.4 billion in economic growth in the Territory between 2020 and 2040,” said Ms Schmidt.
She added that, according to Geoscience Australia, the best estimate of prospective shale gas resources in the NT is 275,211 PJ, equivalent to almost 300 years of Australian domestic gas demand.
“The economic benefits of developing the Beetaloo will flow to Darwin, Katherine and regional communities as well as a future self-generating revenue stream by way of royalty payments to the NT Government.”
The Beetaloo Strategic Basin Plan is delivered under the Australian Government’s broader gas-fired recovery plan to unlock resource potential in the NT.
The government has announced a total of $50 million over 2 years for the program.
The Department of Industry, Science and Energy Resources said it is committed to ensuring that Beetaloo development is safe, sustainable, and ensures benefits to the local communities.
For more information visit the Department of Industry’s website.