Industry News

• Mr. Todd Abbott has been appointed as Managing Director of Tamboran Resources Corporation, in addition to his role as Chief Executive Officer, effective today.
• Mr. Abbott has more than 25 years of upstream oil and gas experience spanning unconventional shale operations, strategy, infrastructure, business planning and corporate finance.
• The appointment follows Mr. Abbott’s appointment as Chief Executive Officer in January 2026 and formalizes his executive leadership at the Board level as the Company moves from the appraisal phase into development.

Tamboran Resources Chair, Richard Stoneburner, said:

“The Board is pleased to appoint Todd as Managing Director and Chief Executive Officer as Tamboran

advances its strategy of supplying natural gas from the Beetaloo Basin to the Northern Territory, Australia’s East Coast and Asia Pacific gas markets.

“Todd brings more than two decades of upstream experience with a strong record of safety, operational and strategic leadership and capital discipline. We look forward to Todd continuing to lead the Company through its next phase of growth.”

Tamboran Resources Managing Director and Chief Executive Officer, Todd Abbott, said:

“It is an honor to be appointed Managing Director and Chief Executive Officer of Tamboran, and I thank the Board for its continued support.

“This appointment comes at an exciting and transformative time for the Company. The last few months have been a pivotal period for Tamboran and the Beetaloo Basin, highlighted by the achievement of first gas sales from the Beetaloo to the Northern Territory gas market.

“I look forward to leading Tamboran through our next phase of growth, as we move from the de-risking phase into the development of this world-class asset.”

The material terms of Mr. Abbott’s appointment are unchanged and are set out in the ASX announcement released on January 12, 2026.

Source: Tamboran ASX Announcement

Tamboran ASX Announcement 19.10.26.pdf

The Bonaparte CCS Joint Venture (INPEX Browse E&P Pty Ltd 53% as Operator; TotalEnergies CCS Australia Pty Ltd 26%; and Woodside Energy Ltd 21%) today welcomed the Australian Government’s declaration of identified greenhouse gas storage formation for the Bonaparte Carbon Capture and Storage (CCS) Project.

This is the first declaration in Australia for an offshore saline aquifer storage site, and it represents a landmark achievement for the Bonaparte CCS Project. It establishes the technical viability of the potential storage site that has been assessed by the Bonaparte CCS Joint Venture for greenhouse gas injection and storage operations.

INPEX Managing Director, Country Chair Australia, Tetsu Murayama, said the approval represented a significant milestone in the continued advancement of the Bonaparte CCS Project and reflected the extensive technical work undertaken to date.

“The Bonaparte CCS Project has the potential to be one of the world's largest carbon storage developments, and over time support a strategic regional low-carbon hub leveraging Australia’s world-class offshore geological resources, existing energy infrastructure and proximity to major regional markets such as Japan and Singapore.

“This approval represents an important milestone for the Bonaparte CCS Project and reflects the rigorous assessment of the storage site undertaken as part of the broader regulatory process.

“Continued support for the timely progression of regulatory and environmental assessment and approval processes will be critical to advancing the Bonaparte CCS Project and supporting emissions reduction efforts in northern Australia and the IndoPacific region,” Mr Murayama said.

The approval builds on recognition of the Bonaparte CCS Project as the first Australian offshore CCS project to receive Major Project Status from the Australian Government in 2025 and demonstrates continued progress along its development pathway.

Pre-Front-End Engineering and Design (Pre-FEED) work commenced in April 2025 with first carbon dioxide (CO₂) injection targeted for the early 2030s, subject to regulatory approvals and commercial agreements.

Ichthys Joint Venture is expected to be the Bonaparte CCS Project’s anchor customer. The Bonaparte CCS Project has the potential to reduce CO₂ emissions from Ichthys LNG by around 40%, contributing to the decarbonisation targets articulated in INPEX Vision 2035.

The Bonaparte CCS Joint Venture will continue undertaking the necessary technical, environmental, regulatory and commercial activities to progress development of the offshore storage site for the Bonaparte CCS Project which is located around 260 kilometres from Darwin.

CCS has the potential to play an important role in helping Australia meet its decarbonisation targets, particularly for industries where emissions are difficult to eliminate through electrification or renewable energy alone. It can also support the development of lower-emissions energy and new industrial opportunities.

Source: INPEX

To view the full media release, click here.

What does it take for Northern Territory businesses to be opportunity ready?

That question was at the centre of a panel discussion held at the 'Opportunity Ready: Preparing NT Business for What’s Next' event hosted by the Department of Trade, Business and Asian Relations, which brought together leaders from across the Territory’s energy, resources and services sectors.

Facilitated by Energy Club NT’s CEO Stephanie Berlin, the session began with presentations from each panellist, who shared project updates, emerging opportunities and practical insights into how collaboration can strengthen local participation and support project development.

The discussion then moved from the major-project horizon to the practical realities of securing work. Panellists explored what operators, proponents and procurement teams expect from suppliers; the capability gaps that can hold businesses back; and the systems, certifications, safety performance and responsiveness needed to compete with confidence.

A clear message emerged: being opportunity ready is about more than knowing which projects are coming. It means understanding and clearly communicating your capability, investing in strong business and management systems, building a reliable track record, and engaging early with prospective partners and customers.

Collaboration was a recurring theme. Partnerships, joint ventures and stronger connections between local businesses, major contractors, project proponents, industry bodies and government can help Territory businesses scale, take on larger scopes of work and connect with global supply chains.

The panel also considered the workforce challenge ahead, including the importance of developing and retaining local talent, strengthening training pathways and making better use of the support, partnerships and resources already available across the sector.

Thank you to our panellists Martin White from Halliburton, Edward Wong from Tamboran Resources, Nasser El-Malak from Altrad, Andrew Meaney from RAM Services and Dr Amber Jarrett from Minerals Council NT for sharing their perspectives, project insights and practical advice, and to everyone who joined the conversation.

The takeaway: prepare early, communicate capability clearly and collaborate proactively. The opportunities ahead are significant and readiness will determine who is best placed to participate.

• The Finocchiaro CLP Government welcomes KGL Resources Ltd’s announcement of Final Investment Decision for its Jervois Copper Project in Central Australia.
• Construction expected to commence in early 2027, creating up to 350 jobs during construction and up to 550 ongoing jobs once operational.
• Today’s announcement follows the recent groundbreaking at Arafura’s Nolans project, which also reached Final Investment Decision this year.

Another significant milestone has been reached for the Northern Territory’s resources sector, with KGL Resources Ltd (KGL) announcing it has reached Final Investment Decision (FID) for its Jervois Copper Project in Central Australia.

Following the recent groundbreaking at Arafura’s Nolans Rare Earths Project, KGL’s FID marks another major step forward for the Territory.

Located about 380 kilometres north-east of Alice Springs, the Jervois Copper project is expected to create up to 350 jobs during construction of the open-cut and underground mining development and up to 550 ongoing jobs during operations.

Civil works have commenced and a contract has been awarded for engineering, procurement and construction of the processing plant. Construction is expected to commence in early 2027.

KGL recently completed a successful $300 million equity raise to fully fund the development of the project.

Deputy Chief Minister and Minister for Mining and Energy Gerard Maley said the Jervois Project would create hundreds of jobs for Territorians and is already delivering significant economic opportunities for Territory businesses.

“Following the recent groundbreaking at Arafura’s Nolans project, Jervois is another significant development in the pipeline for the Territory,” Minister Maley said.

“These projects mean opportunities for local workers, more business for Territory suppliers and contractors, and investment that can support our communities for years to come.

"The Jervois Project is already delivering real benefits for Territory businesses, with Northern Transportables securing an approximately $36 million contract to design, manufacture and deliver accommodation and infrastructure for the site.

"Contracts have also been awarded to Black Cat Civil, MEC NT and other Central Australian businesses. This is exactly the type of local participation we want to see from major resource developments."

Jervois is expected to produce an average of 30,000 tonnes per annum of contained copper in saleable concentrate over an initial 10-year mine life, with additional silver and gold recovered.

Copper is an important metal for electricity networks, infrastructure, manufacturing and emerging technologies, providing the project with the potential to contribute to domestic and international supply chains.

KGL CEO, Sam Strohmayr said the decision was a defining moment in the progression of the Jervois Project and reflected the strong partnership between KGL and the Territory Government.

"Reaching Final Investment Decision is a defining milestone for KGL and the Jervois Copper Project, marking our transition into full project execution. With funding secured, early works underway and our major delivery contracts progressing, we are firmly focused on safely delivering Jervois and first copper concentrate in the first half of 2028.

"We look forward to continuing to work closely with the Northern Territory Government, local communities and Territory businesses as we develop Jervois and create lasting economic opportunities for Central Australia."

Source: NT Government Newsroom

Central Petroleum advises that the PV14 well has been successfully drilled and is now being completed and tied into the Palm Valley production facility as a gas producer.

After PV14 is completed, the rig will move to commence drilling PV15, the 2nd well in the two-well program which is aiming to restore Palm Valley production capacity to approximately 14 TJ/d.

PV15 will target the southern flank of the Palm Valley anticline rather than the northern flank targeted by PV14. This will make PV15 only the second well after the successful PV12 to directly access the southern flank of the field.

Source: Central Petroleum

To view the full ASX Announcement, click here.

CoMade Group is a world class, multidisciplinary mechanical, electrical and instrumentation specialist, supporting oil and gas, energy, resources, and critical infrastructure projects across the Northern Territory from its base in Winnellie, Darwin.

CoMade delivers fully integrated services across the entire asset lifecycle, spanning across design and engineering, construction, completions, commissioning, operations and maintenance, asset integrity management, and operational excellence.

Through its Design to Operate approach, one experienced CoMade team owns the detail from concept to ongoing operations. For clients, that means fewer handover points, clear accountability and assets that perform from day one, with projects delivered cost effectively, on time and to the highest quality.

Operating extensively throughout Australia and strategically within other regions, CoMade supports complex projects across oil and gas, power generation, renewables, mining, defence, infrastructure, rail, water, maritime and data centres. In the Territory, the team brings specialist crews and equipment to some of the country's most remote sites, supporting mining, energy, and infrastructure operations across the region.

National Business Development Manager Mark Duffy, based in Darwin, said the Northern Territory is an important region for CoMade's growth.

"We're proud to be part of the Territory's energy and resources community. Our local team understands the conditions, the distances and the safety standards these projects demand, and we're here to help members deliver and operate their assets safely and reliably."

To learn more, visit CoMade.com.au.

CoMade_Viva_Case_Study.pdf

CoMade Capability Statement - CMD-BD-DOC-01-0001 Rev 1 Issued for Use.pdf

Asset Workflows - Capabilities.pdf

• The Finocchiaro CLP Government has launched Grow Your Business, a new grant program helping Territory businesses strengthen capability, improve resilience and pursue sustainable growth.

• The program offers three tiers of funding on a 50:50 co-contribution basis, from targeted advice through to grants of up to $50,000, with greater flexibility for businesses to choose their own service provider.

• A new Business Support Guide brings together the Government's business programs, grants and support in one place, backing local jobs as part of rebuilding the Territory economy.

Doing business in the Territory has been made easier with the launch of a new grant program, Grow Your Business, replacing the Business Growth Program with a more flexible, tiered model.

Businesses can access funding on a 50:50 co-contribution basis to engage professional advisory and specialist services:

• Tier 1: up to $5,000 for advisory activities and specific capability gaps.
• Tier 2: between $5,001 and $20,000 for structured business improvements or growth activities.
• Tier 3: between $20,001 and $50,000, a competitive round for complex projects supporting transformation, scaling or strategic opportunities.

The application process for lower tiers has been simplified so businesses can access support quickly, and the requirement to use an approved list of service providers has been removed, giving businesses greater choice of supplier.

The Government is also launching a new Business Support Guide, bringing together key programs, grants and support to help businesses start, grow and expand into new markets. It covers all stages of business and includes initiatives such as the free Workforce Readiness Checklist and Toolkit.

The Business Growth Program will close on 8 October 2026. Applications for Grow Your Business open on 9 October 2026 and close on 13 November 2026 via Grants NT.

Minister for Trade, Business and Asian Relations Robyn Cahill said fit-for-purpose support was essential for a growing business sector.

"Businesses are the backbone of the Territory economy, and it is essential we have contemporary, fit-for-purpose support for businesses wanting to strengthen capability, improve performance and prepare for growth," Minister Cahill said.

"Businesses employ Territorians, support local communities, drive innovation and create opportunity, and we want to make the Territory the best place in Australia to start, operate and grow a business," Minister Cahill said.

The Business Support Guide is available now at business.nt.gov.au. To find out more, visit nt.gov.au/grow-your-business-grant.

Source: NT Government Newsroom

29 September 2026

Senator The Hon Murray Watt, Minister for the Environment and Water
Senator The Hon Malarndirri McCarthy, Minister for Indigenous Australians
Marion Scrymgour MP, Member for Lingiari

Work is about to start on a $122 million project to upgrade and replace ageing power, water and sewer infrastructure in the remote Northern Territory Aboriginal community of Muṯitjulu.

Funded by the Albanese Government, the project will upgrade the water, power and sewerage networks for Muṯitjulu, Maruku and Rangerville.

It will also deliver new renewable energy capabilities, with the installation of a 1MW solar array and 3MW battery system, increasing sustainability and reducing costs and demand for diesel fuel.

Located 1.5km from Uluṟu and within the boundaries of Uluṟu-Kata Tjuṯa National Park, Muṯitjulu is home to about 300 people including Aṉangu, who have strong cultural connections to the park, as well as other residents who work in the community or the national park.

The project contract has now been awarded to Exact Contracting, and works are expected to begin early next month (October), with completion by late 2028.

Originally founded in the Northern Territory, Exact Contracting are a South Australian company that have worked extensively in the Northern Territory, including throughout Central Australia. They bring with them a wealth of expertise and experience in delivering similar projects in remote areas.

An early works package in November 2024 delivered new power, water and sewerage infrastructure to vacant land in the township, enabling the Northern Territory Government to construct 12 new homes.

Minister for the Environment and Water, Murray Watt said the upgrades would improve reliability, resilience and the long-term sustainability of the town’s essential services.

“This significant investment will deliver lasting benefits for residents, create employment and training opportunities, and help ensure the community is supported to thrive, with the upgrades paving the way for new housing and health services,” Minister Watt said.

“As a town within the boundaries of Uluṟu-Kata Tjuṯa National Park, the Australian Government is responsible for supporting services and ensuring the community has the infrastructure it needs for the future.”

“We expect preparation work to start in town in the next few weeks, with full construction to kick off in January, weather allowing.”

Minister for Indigenous Australians, Malarndirri McCarthy said the project will make a big difference to the region.

“This work will ensure families in Muṯitjulu will have safer and more reliable utilities. This will make a real difference and allow the community to grow, with more homes and community services,” Minister McCarthy said.

“The delivery of works will be planned and carried out in close consultation with local residents, so it closely reflects the needs and wants of the community.”

“Bringing renewable energy to Muṯitjulu will reduce reliance on diesel fuel and help deliver more reliable power for families into the future.”

Special Envoy for Remote Communities, and Member for Lingiari Marion Scrymgour welcomed the progress.

“Existing essential services at Mutitjulu are over 30 years old. This is a massive undertaking, and has been a long time coming, so it’s great that contractors are now able to get on with the job.”

“Functioning essential services are critically important for maintaining health, safety and living standards in remote communities. This is one of a number of projects the Albanese Government is funding in the Northern Territory to help support local communities.”

Source: Senator the Honorable Murray Watt

• Construction is underway of a new $2.7 million Humpty Doo Zone Substation, delivering a major boost to essential services and power reliability across the rural area.

• Replacing ageing infrastructure with a new Humpty Doo Zone Substation will deliver a more reliable and resilient electricity network for the rural area, while creating capacity to support future growth.

• Delivering better infrastructure is part of the CLP plan to restore the unique Territory lifestyle and ensure the NT is a place people are proud to call home.

The Finocchiaro CLP Government is delivering stronger essential services to the rural area, with construction now underway on a new $2.7 million Humpty Doo Zone Substation.

Minister for Essential Services, Steve Edgington, said Territorians in the rural area deserved reliable power, and this new substation would replace ageing infrastructure and strengthen the network for the future.

“In our year of growth, certainty and security, we are investing in the essential infrastructure to make the Territory the best place to live, work, visit and invest,” Minister Edgington said.

“This is how we restore the Territory lifestyle and keep the NT a place people are proud to call home.

“We are investing in the infrastructure the rural area needs to grow, replacing ageing assets and boosting the reliability and capacity of the electricity network for now and into the future to give families and businesses confidence to plan for the future.”

Construction recently started after the design work for the new Humpty Doo Zone Substation including civil, electrical, structural and earthing components, was complete.

Power and Water's mobile substation will be used to maintain electricity supply during the construction works, expected to be completed by December.

Member for Goyder, Andrew Mackay, said the Humpty Doo Zone Substation ensures reliability and capacity for the rural area’s electricity network.

“Upgrading the Humpty Doo substation shows the CLP Government is delivering right across the Territory and helping create a secure and better life now and for our kids in the future,” Mr Mackay said.

"As the rural area continues to grow, it's important our electricity network grows with it. Projects like this are about investing now so the rural area continues to enjoy safe, affordable and reliable electricity supply into the future.

"One of the advantages of using the mobile substation is that we can carry out these major upgrades while maintaining electricity supply to customers. It allows us to improve the network with minimal disruption to the community."

Source: Northern Territory Government Newsroom 

Highlights

• Tamboran, as operator, and its joint venture partner Daly Waters Energy became the first to deliver gas sales from the Beetaloo Basin into the NT gas network. Volumes are currently limited by market demand, with Tamboran prioritizing two wells to assess long-term production and well performance data.

• The Beetaloo Joint Venture (BJV) successfully delivered the largest stimulation program in the Beetaloo Basin with three 10,000-foot laterals stimulated across 178 stages using the Liberty Energy (NYSE: LBRT) frac fleet. The program delivered an operational record in efficiency, achieving up to 12 stages per day.

• Successfully placed >2 million pounds of in-basin Beetaloo Red Sand (BRS) across ten stages within the SS2-5H well. The ability to use local sand provides a near-term opportunity for reducing completion costs.Further testing is planned for the December 2026 quarter campaign on the SS1 pad.

• Successfully completed construction of the Sturt Plateau Compression Facility (SPCF) on time and ~US$9million below forecast budget. Commissioning activities are expected to be completed during 4Q 2026.

• Commenced the 2026 three well drilling program on the SS1 pad with the Helmerich & Payne (NYSE: HP) FlexRig® Flex 3 rig. The SS1-4H and SS1-6H wells reached TD and have been cased with 9,329-foot and9,505-foot useable lateral sections, respectively. The SS1-2H well is currently being drilled.

• Drilling activities commenced on the Jibera South 1H (JS-1H) well in the Santos-operated EP 161 acreage (Tamboran 25%). The well is part of a two well program to further delineate gas resources in the Beetaloo East depocenter.

• In May 2026, Tamboran completed the acquisition of Falcon Oil & Gas Ltd. via the acquisition of its subsidiaries following receipt of final court approval from the Supreme Court of British Columbia.

• As of June 30, 2026, Tamboran had cash and expected near-term inflows of US$240 million (including Tamboran’s 50% share of restricted cash). Net drawn debt was US$30 million, associated with the construction of the SPCF, with undrawn debt of US$31 million (net Tamboran) remaining.

Tamboran Resources Corporation Chief Executive Officer, Todd Abbott, said:

“The last few months have been a pivotal period for Tamboran and the Beetaloo Basin as we have delivered on a key commitment and provided the next step in de-risking the basin. We have achieved first gas sales from the Beetaloo to the Northern Territory gas market. Homes and businesses in Darwin are now being powered by a local onshore resource.

“Our latest drilling and stimulation work is showing where we can improve efficiency and we delivered the compression facility on time and below the forecasted budget, while local sand offers a potential source of completion cost savings. The equity raise has also strengthened our balance sheet as we progress towards the next phase of development. “The priority now is to turn those achievements into sustained operating performance. That means completing commissioning and production testing, building towards plateau production and contracted supply of 40 TJ/d, and demonstrating that the gains in well delivery can be repeated. Those are the measures I will use to judge our progress as we advance our development plans and partner discussions. “First gas also delivers real benefits for the Northern Territory: new jobs, opportunities for local business, and a reliable domestic gas supply that supports the Territory's economic growth.”

Read Full ASX release here: 

Tamboran Fourth Quarter Activities 2026.pdf

Tamboran 4Q FY26 Result Presentation.pdf