Interesting times on the gas front with the changes in ownership in the Beetaloo and the court’s determination relating to Santos’ Barossa activities.
I guess in very simplistic terms if Origin doesn’t want to proceed with their Beetaloo investment but Tamboran does, then it’s a good outcome for the NT’s economic future. Not everyone will agree with that, but the requirements emanating from the Pepper Inquiry do provide a level of confidence that the industry can proceed safely, and Tamboran is already working through its commitments on its existing holdings.
Santos has hit a hold-up with their Barossa project as the court decided there was insufficient dialogue with a Tiwi Islands’ Traditional Owner. That project has significant implications for Darwin and the NT so hopefully, a resolution can be found quickly. There are many forces at work in these interesting times!
On a brighter light, the statistics relating to the ‘enquiry work’ coming through ICN are encouraging. Hardly exhaustive on the overall industry front, nonetheless we handled $89bn in 2019/20, $1.37bn in 2020/21 and $1.99bn in enquiry related values. It’s a promising trend and hopefully one that continues as the industry manages the increasing safeguarding requirements.
Chief Executive Officer