Industry News

Highlights

• Tamboran Resources Corporation has received approval from the Northern Territory Government (NTG) to sell appraisal gas from its exploration permits in the Beetaloo Basin under the Beneficial Use of Gas (BUG) legislation.
• This is the first approval granted by the NTG through the new BUG legislation and follows the recent consent from Native Title Holders for the sale of up to 60 TJ per day from the Shenandoah South (SS) Pilot Project over a three-year period.
• The Beetaloo Joint Venture (BJV) now holds all necessary approvals to sell gas from the SS Pilot Project. The project aims to begin gas sales of up to 40 TJ per day to the NTG under a binding Gas Sales Agreement (GSA) commencing in mid-2026, subject to weather conditions.
• Drilling of the three remaining wells required for plateau production for delivery into the GSA is progressing, with the intermediate section completed on all three wells. Tamboran is currently drilling the horizontal section in the Mid Velkerri B Shale at the SS-5H well.
• Stimulation of the SS-4H well is planned for 4Q 2025, followed by a 30-day flow test before being connected to the Sturt Plateau Compression Facility (SPCF) for gas sales to the NTG.

NEW YORK--(BUSINESS WIRE)-- Tamboran Resources Corporation (NYSE: TBN, ASX: TBN)

Tamboran Resources Corporation Chairman and Interim CEO, Richard Stoneburner, said:

“The BJV has secured an important milestone, being the first joint venture to secure NTG approval to sell gas under the BUG legislation. This approval will allow the BJV to sell gas to the NTG under a long-term GSA, delivering energy security to Territorians.

“The BUG legislation has been a significant initiative undertaken by the Government, which allows for gas volumes to be sold into the market during the exploration and appraisal phase of the project life. Gas that would have historically been flared on site will now be delivered into the local Northern Territory gas market, delivering much needed energy security to the market that is predominantly powered by gas. It will also deliver accelerated royalties to the NTG and Native Title Holders.

“We thank the NTG and Native Title Holders for their support in securing such a historic milestone and we look forward to continuing to work alongside these key stakeholders as we unlock the potential of the Beetaloo Basin.”

Source:Tamboran Resources Corporation

The Finocchiaro CLP Government has introduced landmark reforms to the Northern Territory’s electricity market and system to deliver system security and reliability at lowest cost, and to encourage the investment needed to rebuild the Territory’s economy.

After consecutive blackouts last week and today, these reforms are critical to delivering a stable, modern, and future-ready electricity system for Territorians.

The NT Electricity System and Market Operator (NTESMO) Bill 2025 and Electricity Legislation Amendment (Market Reform) Bill 2025 will establish NTESMO as an independent system controller and market operator, introduce centralised planning and procurement powers and processes, and deliver a clear framework of electricity market rules in line with industry best practice.

Minister for Mining, Energy and Renewables Gerard Maley said the much-needed reforms will maximise purchasing power, put downward pressure on system costs and facilitate a more stable and reliable electricity system, future-proofed for Territorians.

“Last week we saw a mass power failure because of a lack of investment into our generators and other electrical assets, which are reaching the end of their life. This is a stark reminder that our current ageing energy infrastructure is no longer fit for purpose,” Minister Maley said.

“Our Government is proactively fixing another legacy problem to keep the lights on through contemporary reforms and address our neglected, unreliable energy system.”

The legislation removes unnecessary red tape for investors and introduces a contemporary and fair energy framework for Territorians, with a strong focus on energy affordability.

Minister Maley said the reforms represent a significant overhaul of the Electricity Reform Act 2000, providing a future-proofed and streamlined approach tailored to the Territory’s unique circumstances.

“We want to have a clear, whole-of-system electricity investment plan, de-risking investment, promoting industry confidence and optimising costs through centralisation and strengthened governance measures. This will provide commercial certainty for electricity project proponents and benefit Territorians for generations to come,” he said.

The reforms also consider consumer energy patterns across the Territory, including the increasing uptake of solar and the vital role of gas, while removing barriers for emerging technologies.

“These reforms are not just technical changes. They are the foundation of a modern electricity system for Darwin, Katherine, Tennant Creek and Alice Springs, restoring confidence in our infrastructure for Territorians,” Minister Maley said.

“The changes complement our natural advantages in gas and solar as part of the Territory’s energy mix — underpinning reliability and securing the Territory’s economic future.”

Source: Northern Territory Government Newsroom

In 2022, Crowley Australia began construction on 11 tanks for the storage of fuel.

It was under the former Labor Government that the fuel tanks were allowed to be built without a building permit - a reckless failure of oversight that put our community’s confidence in the process at risk.

As Minister for Lands, Planning and Environment, I ordered this matter be properly investigated to make sure Territorians could have confidence that the tanks would not cause irreparable damage to our environment.

Since then, Crowley Australia has returned a signed compliance statement from an independent structural engineer stating that the facility meets the National Construction Code and relevant Australian Standards.

NT Fire and Rescue Service has reviewed the engineering reports submitted by Crowley’s fire safety engineer and is satisfied that all national construction codes are met.

Today, I made a declaration under the Building Act that occupancy certification is not required for the fuel facility. The current legislation does not allow for a Building Permit to be issued retrospectively.

This decision follows the review of reports provided by Crowley’s independent structural engineer and an assessment by the Northern Territory Environment Protection Authority.

Crowley Australia has obtained full environmental approval and demonstrated that the bunds surrounding the tanks have the capacity to contain all of the fuel in the tanks. The independent structural engineer has confirmed that the tanks are constructed to withstand winds equivalent to a Category 4 cyclone under the Bureau of Meteorology’s cyclone categories.

The project represents an important investment in the Northern Territory and will form a critical asset within the Northern Australia Defence Hub, supporting future economic growth and strategic capability.

Source: Northern Territory Government Newsroom

APA announces the registration of an Indigenous Land Use Agreement (ILUA) with Traditional Owners for the Sturt Plateau Pipeline (SPP) in the Northern Territory.

Facilitated by the Northern Land Council (NLC), in accordance with its statutory functions, this milestone closes out the necessary Traditional Owner consents required to move forward with the project, complementing the separate and existing agreement in place between Traditional Owners and APA’s customer for the SPP, Tamboran Resources.
 
APA’s ILUA establishes a clear framework for engagement with Traditional Owners as APA progresses the SPP, setting out arrangements addressing social, economic, and environmental considerations and ensuring structured and ongoing collaboration with relevant Traditional Owners throughout the life of the project.
 
APA CEO and Managing Director Adam Watson said the agreement underlines APA’s ongoing commitment to strong engagement with Traditional Owners as it progresses the SPP project.
 
"The Sturt Plateau Pipeline is the crucial first-stage link to enable Beetaloo gas to reach power generation assets that keep the lights on across the Northern Territory and this agreement provides the required consent from Traditional Owners to progress this important project.
 
“The registration of this ILUA provides a strong foundation for the Sturt Plateau Pipeline to proceed in close partnership with Traditional Owners, ensuring the project is delivered safely and responsibly. This is a critical milestone as we work to maintain positive and lasting relationships with Traditional Owners and builds on the agreement already in place with APA’s customer."
 
The SPP is a 37-kilometre pipeline that will connect Tamboran’s Shenandoah South Pilot Project in the Beetaloo Basin to APA’s Amadeus Gas Pipeline (AGP). The new infrastructure will ensure Beetaloo gas is available to support power generation in the Northern Territory from 2026.
 
The project has received a pipeline licence from the Northern Territory Government. Construction is scheduled to commence September 2025, with the estimated ~$66.5 million project to be completed in early 2026.
 
APA will continue to engage closely with Traditional Owners, landholders, and other stakeholders as the project advances.

Source: APA Group

The derelict Northern Endeavour floating production storage and offloading (FPSO) vessel is just days away from its final departure from the Laminaria-Corallina field to be towed to Singapore, ENB can exclusively reveal today.

According to anonymous sources close to the project, the FPSO is currently due to start its 18-day tow to Singapore on 22 September.

The revelations come as teams working on the project work to sever the vessel from its nine subsea anchors, which have tied it to the seabed for more than twenty years.

Work to disconnect the vessel from the nine wells to which it was attached was completed in April.

The vessel's departure from the fields - about 550km west-north-west of Darwin and 160km south of Timor – will mark the end of phase one of the decommissioning program.

That will enable phase two – the decommissioning of the seabed– to start, a process which is being overseen by Kent, as reported by ENB last month.

Source: Energy News 

Cutting red tape, speeding up contracts, and putting local businesses first - the Finocchiaro CLP Government is modernising procurement to make it easier than ever to do business in the Territory.

Minister for Trade, Business and Asian Relations, Robyn Cahill said the changes are designed to cut unnecessary red tape, make procurement more effective for all stakeholders, and drive productivity and economic growth.

“Under our Rebuilding the Economy Strategy, we want to make the Territory the best place in the nation to live, work, visit and invest,” said Ms Cahill.

“These reforms are about streamlining processes and removing unnecessary barriers so businesses and government can get on with the job more quickly.”

“As part of our year of action, certainty and security, we are committed to delivering programs and policies that strengthen local business participation, rebuild the economy and drive growth.”

“Doing business with the government is changing from 1 October, and I encourage Territory businesses to attend an information session in their region to learn more about the procurement reforms.”

From 1 October 2025, the Northen Territory Government will implement changes to purchasing tiers.

• Tier 1 will increase from $15,000 to $50,000
• Tier 2 will increase from $100,000 to $200,000

Direct purchasing from Territory enterprises will be streamlined under the new Tier 1 and 2 thresholds for low risk, readily available and commonly used goods and services.

The simplified rules will remove administrative hurdles, reduce delays, and enhance efficiency for purchases such as milk, office chairs or one-off cleaning services.

Other key reforms include the establishment of a Territory Procurement Champion to support local businesses, handle procurement complaints at arm’s length, and work with government to deliver more local procurement outcomes. Work is already underway to appoint the Territory Procurement Champion.

A Procurement Reform Roadshow will be rolled out across all regions in September, giving Territory businesses the opportunity to attend free information sessions and learn more about the changes.

The reforms will be progressively implemented across 2025 and 2026.

To find out more about the procurement reforms or to register for an information session in your region visit nt.gov.au/procurement  

Source: Northern Territory Government Newsroom

The Finocchiaro CLP Government is unlocking the full potential of the Beetaloo Sub-basin, approving two game-changing infrastructure projects worth $210 million that will fuel economic growth, create more than 200 jobs, and deliver long-term prosperity for Territorians.

Work begins this month on the Territory’s first-ever Beetaloo pipeline, with APA Group investing $70 million to deliver the 37-kilometre Sturt Plateau Pipeline, connecting Tamboran Resources’ Shenandoah South Project to the Amadeus Gas Pipeline.

Separately, Tamboran has secured approval from Traditional Owners, the Northern Land Council and the NT Government to recover appraisal gas for sale from Exploration Permit 98, paving the way for construction of the $140 million Sturt Plateau Compression Facility. Together, these projects establish the first clear pathway to market for Beetaloo gas - unlocking royalties, powering Territory homes and businesses, and cementing the NT’s place as an energy powerhouse.

Chief Minister Lia Finocchiaro said the investment marks a turning point for the Territory’s economy. Minister for Mining and Energy Gerard Maley said the approvals prove the NT is ready to lead on energy, creating real opportunities for Territorians and positioning the NT as a world-class energy hub.

This week, the Department of Mining and Energy will host Northern Australia’s premier mining industry conference as part of NT Resources Week, 3-4 September in Darwin. Key themes include navigating global trade dynamics, insights into the gold and critical minerals sectors, updates from major mines, new exploration initiatives in Tennant Creek and Barkly, company updates from leading exploration firms, and regional infrastructure projects. Tamboran Resources Chair and Interim CEO, Dick Stoneburner, will also provide an update on Tamboran’s development milestones.

Source: Northern Territory Government Newsroom

The Finocchiaro CLP Government is powering ahead in its year of action, certainty and security, unveiling the full line-up for October Business Month (OBM) today.

Minister for Trade, Business and Asian Relations Robyn Cahill said more than 70 event partners will hold over 200 events across the Territory during October.

"OBM was first introduced by the CLP 30 years ago - backing local business is in our DNA.

“OBM is equipping Territory businesses with the tools to succeed—supporting growth, jobs and the rebuilding of our economy,” said Ms Cahill.

This year’s theme Play to Our Strengths will focus on digitalisation, using AI to implement technology; workforce attraction and talent retention; and resilience in business.

Some OBM highlights:

• The Business Support Showcase, in Alice Springs, brings together service providers from the Australian Government, Northern Territory Government, and a range of non-government organisations to share practical tools, resources, and advice to help Territorians grow their business.
• OBM Platinum Sponsor NAB will bring economist Tapas Strickland, Head of Market Economics at NAB, to Darwin and Alice Springs to provide an update on the Territory’s economy.
• Other feature events include the first Darwin Rural Business Connect networking event, in Humpty Doo, hosted by AusIndustry and the Business Futures Forum – an event designed to shape the Future of Business in Palmerston.

There are a wide range of events on offer, both in-person and online, for businesses to upskill, reskill and network. Topics covered include cyber security, AI, growth and scale, financial literacy, talent assessment and retention, workplace wellness and mental health, digital marketing, public speaking and strategies for business success.

Three new Territory success stories have been added to the line up including Brook Summers, Studio B Designs and Art by Brooke; Doug McBean, North Horizon Heli Adventures and Crystal Pollitt, Bark n’ Bath. 

All of our Territory success stories will be showcased at keynote events and also include Anneliese Grazioli, Dan Richards, Vicki-Leigh Lettice, Anita Synnott, Paul Graham and Laura-Jane (LJ) Devlin.

Tickets are still available to all OBM keynote events, this year’s line-up includes two of Australia’s leading entrepreneurs:

• Carolyn Creswell – inspirational leader, founder and CEO of Australia’s favourite muesli brand, Carman’s Kitchen. 
• Simon Griffiths - social entrepreneur, co-Founder and CEO of the eco-friendly toilet paper brand, Who Gives A Crap.

Book now at obm.nt.gov.au

Source: Northern Territory Government Newsroom

Highlights:

• Strong free cash flow from operations of US$1.1 billion
• Sales revenue of US$2.6 billion
• EBITDAX of US$1.8 billion
• Net profit after tax of US$439 million, underlying profit of US$508 million
• Gearing at 23.7 per cent (20.5 per cent excluding leases) and liquidity of US$3.9 billion
• Interim dividend declared of US13.4 cents per share, franked to 10 per cent, totalling US$435 million
• Unit production cost of US$7.28 per boe excluding Bayu-Undan
• Strong average realised LNG price of US$11.57 per mmbtu
• Darwin LNG ready for startup (RFSU) milestone achieved
• Barossa LNG FPSO rapidly approaching RFSU
• Pikka phase 1 seawater treatment plant and all production modules on location, first oil guidance accelerated to the first quarter of 2026

Source: Santos

Highlights:

• Tamboran Resources Corporation has reached an historic agreement with Native Title Holders and the Northern Land Council for the sale of appraisal gas from its Exploration Permits in the Beetaloo Basin (Agreement).
• The Agreement provides Native Title Holders’ consent to the Beetaloo Joint Venture (BJV) to sell appraisal gas from EP 98 and EP 117 of up to 60 TJ per day from the proposed Shenandoah South Pilot Project over a three-year period. The BJV will now focus on securing necessary approvals to support longer-term production.
• The BJV has contracted an initial 40 MMcf/d to supply the Northern Territory Government until mid-2041, which is expected to provide energy security for Territorians. First gas is planned in mid-2026, subject to weather conditions and customary stakeholder approvals.
• Tamboran maintains strong working relationships with the Native Title Holders across its operated acreage. The Company plans to continue delivering financial benefits, training, employment, and contracting opportunities to the Native Title Holders and the local community.
• Tamboran will continue working with Native Title Holders and the Northern Land Council to ensure the development of the Beetaloo is a genuine partnership that represents significant and long-term economic and social benefits

Source: Tamboran Resources ASX Announcement