Industry News

Outstanding base business performance

• Free cash flow from operations of ~$380 million for the fourth quarter, up 30 per cent on the prior quarter, ~$1.8 billion for the full year.
• Free cash flow from operations breakeven price of less than $30/bbl for the full year.
• Production of 22.3 mmboe for the fourth quarter, up five per cent on the prior quarter, full year production 87.7 mmboe.
• Sales volumes of 24.8 mmboe for the fourth quarter, up 15 per cent on the prior quarter, full year sales volumes 93.5 mmboe.
• Sales revenue of more than $1.2 billion in the fourth quarter, up nine per cent on the prior quarter, full year sales revenue more than $4.9 billion.
• Full year unit production cost below $7/boe (excluding Bayu Undan) and within guidance.
• Gearing 26.8 per cent (21.5 per cent excluding operating leases), down 1.4 per cent from end of the prior quarter.

Barossa LNG – first LNG cargo loading underway

• The BW Opal FPSO continued start up and commissioning activities while ramping up gas export volumes, now at ~450 mmscf per day which is around 75 per cent of plant capacity. The six-well drilling program in the Barossa gas field was successfully completed and all six wells have been tested. All wells have intersected excellent reservoir quality with average individual well potential deliverability of ~300 mmscf per day.
• LNG production commenced following completion of the Darwin LNG life extension project and cool down of the LNG train and storage tank.
• Following the end of the quarter, the first LNG cargo has been sold on a delivered ex-ship (DES) basis. The cargo is currently being loaded at Darwin LNG and will be delivered to the Sakai terminal in Japan.

Pikka phase 1 – nearing mechanical completion

• Pikka phase 1 is 98 per cent complete and nearing mechanical completion, with commissioning progressing. Twenty-four wells were drilled and completed at the end of the fourth quarter. The 23rd well achieved the highest productivity to date, producing at an initial rate of approximately 8,000 bbl per day. The 24th well was the second combination well, developing two reservoir sections from the one well.
• As Pikka phase 1 nears first production, following the final cost and schedule review, capital expenditure for phase 1 has increased by approximately $200 million Santos share (less than 10 per cent of the total Pikka phase 1 project costs). The majority of this expenditure relates to facilities and has been incurred in 2025. Santos’ total 2025 capital expenditure remains at the lower end of original guidance, with the Pikka phase 1 cost increase offset by lower-than-planned capital expenditure elsewhere in the portfolio.
• The Pikka phase 1 increase reflects inflationary pressure on labour and materials across the North Slope, tariffs on production modules for the sea water treatment plant and logistics costs relating to the MacKenzie River transit.
• The project remains on track for first oil late in the first quarter of 2026, with ramp up to plateau expected around the middle of the year.

Operational excellence

• The PNG Hides F2 well was completed and a safe, accelerated start up commenced in the fourth quarter, with initial production rates averaging 60 mmscf per day.
• Western Australia domestic gas production increased by approximately 19 per cent compared to the prior quarter, following successful shutdowns in the third quarter at the Varanus Island and Macedon facilities, and implementation of the Varanus Island compression project phase 2, which developed around 24 mmboe of 2P reserves.
• Cooper Basin output recovered to pre-flood levels with 91 wells successfully returned to production in the fourth quarter. Drilling activity continued uninterrupted in 2025, with 104 wells drilled for the full year despite flood-related disruptions, supporting a near-term increase in production compared to the previous quarters.
• GLNG delivered full year LNG production of 6 Mt. The Roma field achieved record daily production of 223 TJ per day. Scotia delivered record average daily production of 105 TJ per day over the fourth quarter. Arcadia achieved facility reliability above 98 per cent. Development activities at Fairview continued to progress during the quarter, with 21 wells drilled as part of the ongoing Fairview SD25 and EE Phase 1 programs (116 wells total).
• Signed a well-priced mid-term LNG portfolio supply contract to supply approximately 0.6 Mtpa over a period of up to five years from 2026.
• A drilling rig was secured for the Beetaloo Basin program consisting of a 2-3 well campaign planned for the third quarter of 2026. All regulatory approval applications required for the appraisal program were submitted and consultation with Traditional Owners was undertaken.
• Moomba Carbon Capture and Storage phase 1 (Moomba CCS) continues to perform to plan, safely and permanently storing more than 1.5 Mt of CO2e since start-up. Moomba CCS met the high compliance standards of the Clean Energy Regulator and received 907,872 Australian Carbon Credit Units in the fourth quarter, covering the period from project commencement in September 2024 to June 2025.

Disciplined capital management

• Raised $1 billion senior unsecured fixed-rate bond at 5.75 per cent maturing November 2035.
• Accelerated the final repayment to close the PNG LNG project finance facility.
• Executed a conditional sale and purchase agreement to divest non-core 42.86 per cent interest in the Mahalo Gas Project (Bowen Basin, Queensland) to Comet Ridge Mahalo Limited for A$40 million upfront consideration and up to A$20 million in contingent payments linked to production milestones.
• Completed the divestment of non-core 42.71 per cent interest in the Petrel field and 100 per cent interest in the Tern fields in the Bonaparte Basin (offshore Northern Australia), to Eni Australia.

Santos Managing Director and Chief Executive Officer Kevin Gallagher said that continued focus on operational excellence across our base business, disciplined execution of major development projects and an unwavering commitment to safety underpinned Santos’ performance throughout 2025.

“Personal and process safety, and environmental performance, was outstanding, with the company in the top quartile of global industry benchmarks for personal safety and better than global average for process safety and environment performance,” Mr Gallagher said.

“The fourth quarter lifted free cash flow for the full year to approximately $1.8 billion, a strong result in a year of relatively soft commodity prices for the industry, which demonstrates the value of our focus on margin in our marketing and trading activities.

“The performance of the base business has been a real highlight in 2025 with strong production despite the impact of the biggest floods in the Cooper Basin since the 1970s.

“Santos now has a strong platform for production growth with Barossa’s first LNG cargo currently loading at Darwin. We have taken a very considered approach to the final stages of commissioning to ensure offshore operations achieve a steady state, high level of reliability as quickly as possible once full production is achieved. Following two connection failures on the utilities and firewater mains GRE pipework systems, a campaign to strengthen all similar connections across the FPSO was undertaken which caused delays of approximately two months to our production ramp up schedule. While this was disappointing our aim is to commission the facilities and to identify and rectify any vulnerabilities to support our objective of achieving a high reliability operation for the long term. Our focus is now on safely and reliably increasing Barossa gas production to deliver long-term value for shareholders in line with our FID promise.

“We are also moving close to first production from Pikka, positioning the company to deliver sustainable returns to our shareholders and continue to reinvest in the business to grow production.

“Drilling at Pikka continues to perform strongly, with the 23rd well achieving the highest productivity so far, with an initial rate of approximately 8,000 barrels of oil per day. The 24th well was the second combination well, developing two downhole reservoir sections with one well. The drilling capability and innovation developed at Pikka will underpin our strategy for future developments.

“Once at full rates, Barossa LNG and Pikka phase 1 together are expected to lift Santos’ production by around 25 to 30 per cent by 2027 compared to 2024 levels.

“Moomba CCS continues to be a great success, performing to plan. It has met the strict performance requirements of the Clean Energy Regulator, resulting in the issuance of more than 900,000 Australian Carbon Credit Units which cover the project’s contribution to emissions reduction from start-up in September 2024 to June 2025.

“Santos’ financial performance and disciplined approach to capital management were reflected in several key activities during the period, including the issuance of a $1 billion ten-year bond to enhance financial flexibility, the early repayment of the PNG LNG project finance facility, the divestment of two non-core assets to sharpen portfolio focus and the receipt of the Fluor settlement proceeds. These measures have reinforced the strength of Santos’ balance sheet and reflect our continued focus on disciplined capital allocation and long-term shareholder value.

“Santos remains laser focused on executing our strategy in line with our disciplined, low-cost operating model and capital allocation framework. This discipline combined with an all-in free cashflow break-even target of $45 to 50 per barrel, will position Santos over the next few years to deliver sustainable results and provide strong returns for our shareholders,” said Mr Gallagher.

Source: Santos

Download the Santos-Fourth Quarter Report

The Timor-Leste government has taken a concrete step toward unlocking the long-delayed Greater Sunrise LNG project, signalling that the two-decade-old development is edging closer to physical execution after committing almost US$20m to early-stage technical work.

The spending covers two critical tenders — a US$5.6m geotechnical survey and a US$13m metocean survey — announced by the Ministry of Petroleum and Mineral Resources as groundwork for engineering design and offshore development planning.

Officials say the surveys are essential to de-risking one of the country's most strategically important projects, which has been stalled for years by commercial disputes, development concept changes and geopolitical sensitivities over gas processing options.

Speaking to ENB, a Woodside spokesperson said tenders are "part of the broader commercial and technical maturation work agreed between the Ministry of Petroleum and Mineral Resources and Woodside to advance studies on a Timor-based LNG development concept for Greater Sunrise. This is consistent with the parties' cooperation agreement."

They added that the surveys will contribute to a possible future concept selection recommendation and that as yet no concept has been selected.

The presidential view

Speaking exclusively to ENB last month, Jose Ramos Horta, the president of Timor-Leste, said he expects the partners of the Greater Sunrise joint venture - Timor GAP and Woodside - to announce in the middle of 2026 that the LNG project's processing facilities will be built in his island nation.

The opportunity

Discovered in 1974, the Greater Sunrise fields hold a total estimated contingent resource of 5.3 trillion cubic feet of natural gas and 226 million barrels of condensate, making it one of the most significant undeveloped gas resources in the region. The possibility of tapping into it as a viable project has been considered for many years, with discussion centred on the location of the processing facilities.

But with the fields halfway between Australia and Timor-Leste, the question has always been where will the Greater Sunrise joint venture - comprising TIMOR GAP (56.56%), operator Woodside (33.44%), and Osaka Gas Australia (10%) – opt to build the LNG processing plant – in Natabora or on Australian soil?

Recent momentum

In October, ENB reported that Australia and Timor-Leste had restarted formal negotiations to advance the long-delayed Greater Sunrise gas project, with officials meeting in Dili to discuss governance and legal arrangements for the shared offshore fields.

In late November, Woodside announced it had signed an agreement with the Timor-Leste government that sets a path to selecting the site for Greater Sunrise's LNG processing facilities by mid-2026, sparking a concept study to weigh Timor-Leste and Australian development options.+

This deal came as Woodside's lead on the Greater Sunrise project - Julie Fallon, Woodside's executive vice president, technical and energy development - gave an update on the scheme, saying: "The successful development of these fields offers both Australia and Timor-Leste an opportunity to generate stable and significant cash flow over a period of potentially 30 years, providing the Greater Sunrise joint venture with the potential shareholder value and growth."

The location question

Categorised as a "Least Developed Country" by the UN, President Ramos-Horta told ENB the decision to develop a processing plant in Natarbora, the greenfield region on the south of the island, would be "transformative" for his nation.

"The south coast is one of the least populated areas of the entire country – traditionally, Timorese live in the northern coast. The south coast is actually fertile… and could be a whole new economic hub for Timor-Leste, including agriculture and industries of all sorts.

"But going back to the '60s, everybody's talked about it, from the time of the Portuguese, they talk about the south coast will be the breadbasket team, but it never happened.

"Now, finally, it's going to happen, starting with the gas industry, which will generate possibilities for a fertiliser industry and fertiliser plants, which will aim for the world market, but also for our country's needs in terms of our strategic policy to make Timor-Leste self-sufficient in agriculture to double or triple our agriculture output," enthused the president.

For the president, the benefits for the JV partner in opting to build the LNG plant in Timor-Leste are something of a no-brainer.

"Even a small shopkeeper owner would look at it and see the advantage of bringing the pipeline to Timor-Leste.

"It's a bit like you're trying to compare the cost of taxes and labour between the United States and Mexico. Our labour cost is very low…we don't have any dispute or conflict with any of our neighbours, and…with the plant in Timur-Leste also, we are already several hundred kilometres closer to the gas energy market.

"And Australia, anyway, has endless opportunities all over Western Australia, northern Australia…full of resources," the president added.

"The Darwin option would give the Australian government a lot of headaches in terms of addressing Australia's commitment…to clean energy.

"In Timor-Leste, we don't have the problem. Our contribution to CO2 emission, emissions is 0.003%, so it's next to nothing.

"And because of our status as a least developed country, we have much more leeway and time frame to transition to renewables," he added.

Source: Energy News Bulletin

US-based CB&I has moved to acquire Petrofac's Asset Solutions business, a deal that could see the ownership of the contractor overseeing phase one of the Northern Endeavour's decommissioning program transition into new ownership, with the Perth-based team currently delivering work on the Commonwealth-led project.  

CB&I said it had entered a sale agreement to acquire Asset Solutions, describing the business as a provider of operations, maintenance and decommissioning services for onshore and offshore energy assets. 

The company's president and CEO, Mark Butts, said the two groups had "similar management philosophies and industry-leading safety performance", framing the acquisition as an expansion into integrated services and a more predictable reimbursable contracting model.

"With this combination, we see strong cultural alignment, diversification benefits, and clear opportunities to enhance performance and deliver stable cash flow generation," he said. 

Petrofac separately confirmed it had agreed to sell Asset Solutions to CB&I, with Petrofac group chief executive Tareq Kawash calling it "a great outcome" that would "support job security for 3,000 talented team members."  

Petrofac said the sale consideration was agreed on a debt-free, cash-free basis, and administrators expected net proceeds in the range of US$45 million to US$55 million, depending on deductions confirmed closer to completion.  

Completion remains subject to conditions, including approvals from certain secured and unsecured creditors, with Petrofac indicating those approvals were expected by the end of January 2026, ahead of a targeted close in Q1 2026.  

Petrofac's issues

In October cash-strapped Petrofac filed for administration after a restructuring plan aimed at securing new funding and tackling debt levels collapsed.

In November, the UK-based company said it was considering mergers and acquisitions (M&A) options for its main operating divisions, and in December US-based CB&I made its announcement that it would acquire the Petrofac's Asset Solutions business.

When Petrofac entered administration a spokesperson for the government Department of Industry, Science and Resources - which is in charge of the FPSO's decommissioning program - told ENB: "The Government is aware that the Petrofac group's parent company, Petrofac Ltd, has entered administration. The vast majority of the Northern Endeavour phase 1 decommissioning works have already been completed following the disconnection and removal of the FPSO. The department will continue to work with Petrofac Facilities Management Limited to ensure that all remaining phase 1 works are completed."

Petrofac said a meeting of Petrofac Facilities Management Limited's creditors would be held on 30 January 2026 to vote on a proposed Company Voluntary Arrangement (CVA) linked to the sale. Petrofac said the CVA was intended to compromise certain creditor claims to enable completion, while "trade creditors, employees and certain other parties are not affected", and operations would continue as usual during the process.  

John Pearson, CEO of Petrofac's Asset Solutions business, said the CVA was "the final step" and that the company was asking creditors to support it so the sale could be completed. Teneo's James Bennett, acting as a joint administrator of Petrofac Limited, described the transaction as "a very positive outcome" that would "secure the future" of Asset Solutions' operations and roles.

Northern Endeavour - the latest

The former FPSO is currently sitting in a shipyard in Singapore where it is being readied for its final voyage to MARS's decommissioning yard in Denmark. In the next few weeks it will be loaded on to the back of COCSO's Hua Rui Long.

Last month the the liquidators of the former owner of the Northern Endeavour were given more time to fight the government over the $1.1 billion they claim they are owned. claims is owed to him.

Liquidators for Timor Sea Oil and Gas Australia (TSOGA), a subsidiary of Northern Oil and Gas Australia – the Angus Karoll-owned operation which bought the Northern Endeavour from Woodside in 2015 - believe the federal government owes them money for agreeing to hand over 30% of NOGA's tenements to Timor-Leste and for effectively shutting down the business. This move they and Karoll believe was unfounded.

In a Sydney courtroom last month, after hearing there are "multiple funders" wiling to support the bid, Justice Stellios granted a request from the liquidators for more time to prepare their case and sort the required funding. The matter returns to court in April.

Source: Energy News Bulletin

The Finocchiaro CLP Government has welcomed 8 new apprentices beginning their career with Power and Water.

Minister for Essential Services Steve Edgington said the new workers would be spread across the Territory.

The 5 apprentices in Darwin, 2 in Alice Springs and 1 in Tennant Creek join 35 current apprentices across 4 fields, 9 graduates, 7 business trainees, and 2 water operation trainee who are already part of the Power and Water team.

Power and Water has partnered with GTNT to host apprentices and trainees for more than 30 years, with the partnership a huge success. In 2025, there were more than 400 applications for the Power and Water roles.

“Growing our workforce is part of the CLP Government’s Rebuild the Economy Strategy and remains a key focus as we move into 2026.

"Power and Water keeps the Territory running, which is why we’re investing in the people who will carry it forward,” Mr Edgington said.

Minister for Education and Training, Jo Hersey, said: “By investing in local talent and trades, we’re creating jobs and rebuilding the Territory economy.”

 “We’re reforming secondary education to create better career pathways to real jobs, by providing more school-based apprenticeships and vocational training opportunities in schools,” Mrs Hersey said.

Power and Water Early Careers Program Advisor, Peter Morrison-Evans, said it’s always exciting to welcome enthusiastic new people to the team.

‘Every new group brings fresh enthusiasm and ideas that strengthen how we operate and serve our communities,’ he said.

‘Watching their confidence and skills develop over the years is one of the best parts of this program. It’s a reminder of how much potential we have right here in the Territory.’

Power and Water launched a new recruitment process in 2024 as part of a strategic initiative to continuously build and maintain a high level of skilled, in-house expertise across the organisation. 

Shortlisted apprenticeship and trainee candidates participate in an assessment centre, where they are evaluated through group activities, individual practical tasks and written exercises. This gives a holistic view of their strengths and skills.

At 45, Power and Water administration officer Helen Marsh will be the oldest apprentice, but feels her maturity, patience and hunger to learn will stand her in good stead as she swaps her office gear for high vis.

‘I’ve been in admin for about 23 years, 13 of those with Power and Water here in Tennant Creek. I felt it was time to do something completely different, and this is a great opportunity for me to do that while staying in Tennant, which I love,’ she said.

‘It will be a big learning curve and feels daunting at times, but I’m excited about learning new things and being out in the field as a line worker. People within the organisation have been so supportive and I’ve received a lot of encouragement.’ 

Joshua Jipp, 24, has gained an apprenticeship as an electrician.  After six years working in mechanics and light vehicle technology he decided to make the change last year.

‘I originally went with mechanics because it was my hobby, but I found that I was losing my passion for working on my own cars,’ he said.

‘I’m really interested in electrics, and the problem-solving side fascinates me. It’s good when you can figure something out and then step back and look at the job you’ve done.’

The cohort of new apprentices will start their four-year nationally accredited apprenticeship program through the GTNT Group this month. They will learn specialised skills and training in electrical, mechanical and linework fields across Power and Water.

Source: Northern Territory Government Newsroom

The Northern Territory Environment Protection Authority has opened two public consultation processes as INPEX pursues their carbon capture and storage (CCS) aspirations tied to the Ichthys LNG project. 

With the firm's Ichthys CCS Project and the Bonaparte CCS Project already both being assessed at the federal level by the Department of Climate Change, Energy, the Environment and Water, the territory's environmental watchdog is now accepting public submissions until 10 February. 

The Ichthys CCS project includes plans to install a CO2 export pipeline on Middle Arm connecting the existing Ichthys LNG facility to an onshore inlet station for offshore transport and long-term storage under the separate Bonaparte CCS project. The referral also includes a tie-in at the Darwin LNG boundary and an option to direct CO2 to Darwin LNG "for sequestration under the Bayu Undan CCS Project managed by Santos."  

The referral sets out an indicative schedule subject to approvals includes site preparation and brownfields works from 2028, with CO2 pipeline pre-commissioning from 2030 and start-up/operation from 2030 and an operational life of about 30 years.  

The separate Bonaparte CCS referral describes an offshore storage project within the G-7-AP permit area in Commonwealth waters, west of Darwin, proposing phased development with capacity "up to 8 Mtpa" initially and later increasing to "approximately 10 Mtpa", with potential total sequestration of up to 300 Mt of CO2 over a 30-year design life.  

While the Commonwealth referrals cover the broader transport-and-injection concept including an offshore CO2 pipeline described as approximately 260km and up to six injection wells, the NT EPA consultation notice for Bonaparte focuses on the Territory component, including an onshore inlet station on Middle Arm and the CO2 pipeline and associated subsea services out to the boundary of NT coastal waters.  

The Northern Territory Government has described Bonaparte CCS as a joint venture between INPEX, Woodside Energy and TotalEnergies, and says the Australian Government granted the project Major Project Status in July 2025.

Source: Energy News Bulletin

Perth-based Monadelphous has extended a strong run of contract wins, securing about $110 million in new work across offshore gas, decommissioning and grid-scale storage, a day after announcing major projects for BHP and Rio Tinto in the Pilbara. 

The engineering contractor has been awarded a four-year maintenance services contract with BW Offshore for the BW Opal floating production, storage and offloading vessel (FPSO), located about 300km north-north-west of Darwin. Work is due to start in the first quarter of this year. 

Monadelphous MD Zoran Bebic says the contractor has built a global offshore résumé, but its publicly disclosed oil and gas work remains heavily concentrated in Australian waters, spanning long-running maintenance, brownfields and decommissioning roles across the Browse, Bonaparte and Carnarvon basins and the Timor Sea.

"Over the past decade, we have continued to strengthen our reputation for the consistent and reliable delivery of offshore maintenance services to our customers, and are proud to work on some of the most significant energy facilities in the world," Bebic said, adding that the company was "pleased to be trusted by industry leaders for repeat work, and to be recognised for the depth of our expertise and capabilities across the asset life cycle."

BW Opal is the production hub for the Barossa LNG development, a joint venture led by Santos, SK E&S and JERA. The project is nearing the final stages of commissioning, with first gas targeted for the September quarter of 2025. 

Barossa represents one of the largest gas investments currently underway in Australia's north, with several billion dollars already committed to offshore production, subsea infrastructure and export pipelines feeding into Darwin. Once on stream, the BW Opal facility will anchor production from the field and underpin LNG exports into Asian markets over the coming decade. 

Monadelphous has also secured a contract with Santos in Papua New Guinea to demolish and dispose of the Hegigio Pipeline Bridge, a 500-metre suspended wire structure spanning the Hegigio Gorge in the Southern Highlands. 

The bridge, originally built by Oil Search (now merged into Santos) to carry oil pipelines serving the South-East Mananda field, was severely damaged in the 2018 earthquake and has since been earmarked for removal as part of broader decommissioning works. Monadelphous expects demolition activities to be completed in the second half of 2026. 

Rounding out the latest awards, Zenviron — Monadelphous' renewable energy joint venture — has won a contract from Flow Power to deliver the Bennetts Creek battery energy storage system in Victoria's Latrobe Valley. 

The 100MW/223MWh project will include balance-of-plant design, construction, installation and commissioning, with completion slated for late 2027. The battery is intended to support grid reliability in a region undergoing rapid transition as coal-fired generation exits the system. 

The latest wins reinforce Monadelphous' diversified exposure across traditional resources, offshore energy, and fast-growing renewable infrastructure, at a time when major producers and utilities continue to increase spending on maintenance, life-extension, and energy transition assets. 

Source: Energy News Bulletin

Highlights

• Falcon Oil & Gas Australia Limited (FOGA) has secured a key approval from its shareholders for the sale by Falcon Oil & Gas Ltd. (Falcon) of Falcon’s 98.1% interest in FOGA to Tamboran Resources Corporation (Tamboran).
• The acquisition of Falcon’s 98.1% interest in FOGA will provide Tamboran with the option of compulsorily acquiring the 1.9% interest in FOGA held by minority shareholders. 
• The acquisition forms part of a broader transaction announced on September 30, 2025, whereby Tamboran will acquire all the subsidiaries of Falcon, subject to certain shareholder and regulatory approvals. 
• Following closing of the broader transaction, Tamboran intends to proceed with the compulsory acquisition of the 1.9% interest in FOGA at a price per share no less than the price being paid to Falcon as part of the broader transaction. 
• Shareholder votes from Tamboran and Falcon to approve the broader transaction are expected to be held in February 2026. The broader transaction is expected to be complete by the end of February 2026 following Falcon obtaining a final court order in British Columbia, Canada.

Source: Tamboran Resources Corporation 

• Carpentaria-5H has achieved a peak gas flow rate of 11.2 TJ/day, the second-highest 30-day average flow rate in the basin of 7.1 TJ/day and an exit flowrate of 6.3 TJ/day, confirming a very low rate of decline over the 30-day clean-up test. 
• Beetaloo Energy has implemented basin-leading flowback methodologies to preserve fracture conductivity and maximise long-term well productivity. This approach utilises a restricted choke that extends the clean-up period, which has delivered a more than five-fold increase in fracture conductivity compared with the previous Carpentaria wells. 
• Clean-up of the frac fluid from the fracture system is ongoing with the gas-to-water ratio continuing to improve throughout the 30-day test period with over 23 percent of the frac fluid recovered to date. Once frac fluid clean-up was achieved at the prior two Carpentaria wells, materially higher gas flowrates were observed, with Carpentaria-3H recording a 30 percent increase in gas flow rate during the post clean-up IP30 flow test. 
• Independent resource certifiers Netherland, Sewell & Associates have estimated 10 PJ of 2C recoverable gas resources per well location in the area surrounding Carpentaria-5H. 
• Based on flowback data analysis conducted by Subsurface Dynamics, a North American shale reservoir engineering specialist, Beetaloo Energy estimates that the Carpentaria-5H well has developed an effective fracture network, characterised by materially longer effective half-lengths relative to the previous two Carpentaria wells and higher apparent shale permeability in the Carpentaria region. Beetaloo Energy believes these outcomes may support improved gas recovery and overall project economics. 
• A further extended flow test is expected to commence in Q1 2026 to fully assess well deliverability once clean-up is complete.
  

“We are highly encouraged to have achieved one of the highest flow rates in the history of the Beetaloo Basin while C-5H is still cleaning-up, demonstrating that the well is likely to be a strong long-term producer. We have deployed a disciplined flow-back strategy with a consistent choke setting since the second day of the test period, to maintain fracture conductivity for long-term well performance while the well dewaters. Total gas recovery is also likely to be enhanced by the 60% increase observed in permeability across the Carpentaria region.

As has been seen with C-2H and C-3H, there is the potential for a material uplift in flow rates once the well is further cleaned-up.

Clean-up is continuing and we intend to commence a second flow test in Q1 2026.

Civil construction works at the Carpentaria Gas Plant are now well advanced, and we look forward to commencing gas plant installation in Q2 2026.

With all required approvals now in place, we look forward to commencing pilot gas sales into the local NT market in 2026.

As 2025 comes to a close, we express our gratitude to the Beetaloo Energy team, our shareholders and all stakeholders, and we look forward to a big year ahead as we bring the Beetaloo Basin into pilot gas sales next year, which will benefit all Territorians.” ⎯ Alex Underwood, Managing Director

Source: Beetaloo Energy Australia Announcement 

As part of the Finocchiaro CLP Government’s commitment to rebuilding the economy, Minister for Trade, Business and Asian Relations Robyn Cahill today announced Expressions of Interest are open for Territory businesses to join the NT Government’s delegation to Energy Exchange Australia (EXA) in Perth, 10 – 12 March 2026.

EXA is Australia’s premier oil, gas and energy service event, showcasing opportunities in decarbonisation, wind, carbon capture, technology and innovation. The event connects industry leaders to strengthen supply chains and drive investment.

“We are positioning the Territory as a leading hub for energy and resources by fostering a competitive and confident business environment. The Northern Territory has a dynamic service and supply sector and a proven reputation for supporting major onshore and offshore gas development and energy projects. Events like EXA strengthen our supply chains, increase the Territory’s participation in significant projects and connect local capability with global opportunities,” Ms Cahill said.

The Northern Territory Government has led delegations to EXA for more than 16 years. In 2025, 14 organisations attended, including the Energy Club NT, Industry Capability Network NT and the Chamber of Commerce NT, with delegates reporting new contracts and business leads.

Northline Sales Manager Jason Morgan also mentioned: “Following EXA we provided over a dozen quotes, opened two new accounts and hosted a Melbourne-based company in Darwin interested in using our facilities for distribution to Southeast Asia.”

Expressions of interest close Sunday, 18 January 2026. Apply via Energy Exchange Australia 2026: Northern Territory Business Delegation – Fill in form

For more information contact Industry.Strategy@nt.gov.au

Source: Northern Territory Government Newsroom

Territory businesses and tradies will benefit from another practical red-tape reduction, with the Finocchiaro CLP Government removing unnecessary Certificate of Compliance requirements for certain low-risk electrical work from 1 January 2026.
 
As part of the Government’s response to the Saying Yes to Business report by the Approvals Fast Track Taskforce, routine like for like electrical replacements that do not alter wiring, electrical load or circuit protection will no longer require a Certificate of Compliance, allowing electricians to spend less time on paperwork and more time on the job, without compromising safety. 
 
Attorney-General Marie-Clare Boothby, said the reform strikes the right balance between safety and practicality.
 
“We promised commonsense Government and that’s exactly what we’re delivering,” Ms Boothby said.

“We’ve listened to small businesses and tradies who’ve told us that the current system just isn’t working. Even the most routine, low-risk electrical work imposes an unnecessary burden, without improving safety outcomes.”
 
“This change is about maintaining the highest safety standards and compliance, while lowering the impact of red tape on small and family businesses.”
 
The reform delivers on Recommendation 6D of the Approvals Fast Track Taskforce, which called for a review of the Electrical Safety Act to identify low-risk electrical work that could safely be exempt from Certificate of Compliance requirements. Under the change, like-for-like replacements that do not alter wiring, load or circuit protection will no longer require a CoC, allowing NT WorkSafe to focus its compliance resources on higher-risk electrical work.
 
The reform is one of 48 priority actions being fast-tracked within the first 12 months of the Approvals Fast Track Taskforce response, aimed at halving approval times and improving certainty across key sectors including construction, hospitality, and tourism.
 
Chair of the Approvals Fast Track Taskforce and former Property Council of Australia NT President, Mark Garraway, welcomed the reform.
 
“This is exactly the kind of practical change industry was calling for,” Mr Garraway said. “It improves certainty, reduces unnecessary regulation and allows government to focus on what really matters — safety and productivity.”
 
Ms Boothby said the reform reflects the CLP Government’s broader commitment to rebuilding the economy while maintaining strong safeguards.
 
“We promised a year of action, delivering certainty and security for industry, including the Territory’s building and construction sector,” she said. “That means backing businesses, cutting red tape, and never compromising on safety. This reform delivers on all three, as we work to rebuild the economy.

Source: Northern Territory Government Newsroom