Tamboran Resources Limited (Tamboran) has is continuing exploration and appraisal works in its petroleum exploration permits in the Northern Territory’s Beetaloo Sub-basin and is calling for expressions of interest from local companies with capacity and capability to provide services and products to support this globally significant gas project.
The recent acquisition of Origin Energy’s Beetaloo Sub-basin assets is transformational for Tamboran and their shareholders, positioning the Company as the largest acreage holder in the Basin. This allows Tamboran to set the pace of development, which will involve a focus on accelerating initial production from the acreage around the Amungee area.
Tamboran remains absolutely committed to operating sustainably. They intend to build on the deep relationships with Traditional Owners, pastoralists, other local stakeholders and the Northern Territory Government that have been fostered by Origin Energy in the Beetaloo Sub-basin over its substantial, multi-year exploration and appraisal program.
The 28,000 square kilometre Beetaloo Sub-basin, 500km south-east of Darwin, is estimated to contain 500 trillion cubic feet (TFC) of gas. This is equivalent to more than 1,000 times the current annual domestic consumption in Australia.
According to the Northern Territory Government’s Territory Gas website the estimated gas volumes would be enough to:
- service and grow existing LNG export markets
- secure cheaper domestic gas supply for many decades
- propel low-emission advanced manufacturing in the Territory.
It could also accelerate multibillion dollar growth in the Territory economy, with long-term global gas supply potential.
Gas exploration in the Territory had been paused to allow for a Hydraulic Fracturing Inquiry, now completed. The government has accepted the final recommendations of the inquiry, many of which were aimed at protecting the environment. These are now all in the process of being implemented and you can see more on the Northern Territory Government website.
ICN NT consultant Daniel McCormick said one of the recommendations was that that any gas produced at a field had to have carbon offsets equivalent to any emissions.
Unlike open cut coal mines, gas extraction involves a surface “pad” of about 200 square metres, supporting a rig. These pads are easily rehabilitated at the end of the project.
“And gas, in the broader scheme, is the transition fuel away from coal,” Daniel said.
Gas plays an important part in the “energy revolution”. After all, you need a lot of energy to build solar panels, so rather than burning coal, you can burn a cleaner, greener fuel such as gas.
The Beetaloo Sub-basin is expected to generate about 200 years’ worth of gas for Australia, much more than the country needs, which means we could also export it to other countries and reduce their dependency on coal.
For more information, or to lodge an expression of interest, go to the Tamboran Resources Gateway page.