Industry News

The Energy Club NT commends the Northern Territory Government for its proactive approach in launching the Territory Resources Social License campaign, aimed to redefine the relationship between the resources sector and the community, fostering transparency, engagement, and sustainable practices.

The campaign, spearheaded by the Northern Territory Government, signifies a progressive step towards aligning the interests of the resources industry with the values and expectations of local communities. As a key stakeholder in the energy sector, the Energy Club NT recognises the pivotal role this campaign will play in establishing a social license framework that ensures responsible resource development.

"The Energy Club NT welcomes the launch of the Territory Resources Social License campaign as a proactive and inclusive approach to addressing the evolving needs and expectations of our communities, this approach reflects the commitment of the Northern Territory Government to balance economic growth with environmental and social responsibility" said Stephanie Berlin, Chief Executive Officer of the Energy Club NT.

“By prioritising dialogue and understanding, the initiative seeks to address concerns, dispel misconceptions, and promote the positive contributions of the resources industry to our economy, the employment sector, and in the quest for sustainability. All of which are keystone to driving the Northern Territory towards its economic objective of $40 billion by 2030”.

“The success and growth of our Industry in the Northern Territory hinge not only on strategic investments and strong government backing but also on an established platform of trust and transparency. By fostering open communication and mutual respect, we can build a stronger, more sustainable future for all stakeholders involved”

Through collaborative efforts and ongoing engagement, the Energy Club NT is committed to supporting the objectives of the Territory Resources Social License campaign and contributing to the continued prosperity and well-being of the Northern Territory.

To view the full media release, click here.

The Territory’s mining and resource industry is worth $6.2 billion, and is key to reaching the Territory Labor Government’s $40 billion economic target.

Mineral exploration for the September quarter of 2023 resulted in a record expenditure of $74.4 million.

To attract further investment in the sector, the Territory Labor Government is today releasing a fully updated guide to Critical Minerals in the Northern Territory, which outlines the Territory’s critical minerals that the world needs.

As part of this update, the Territory’s critical minerals list has increased from 15 to 17, with gallium and graphite added to the list following recent discoveries of these minerals in the Territory.

The mining and resources industry creates more direct and indirect jobs for Territorians than any other, currently directly employing over 5300 people and contributing close to a quarter of the Territory’s gross state product.

To ensure the success of the Territory’s resources sector, both now and in the future, the Territory Labor Government is focused on building community trust through regulation, and providing information on the value of resources.

A Territory-wide Social Licence campaign will now be implemented to reinforce the rigour of the Territory’s regulatory environment, as well as collaborating with Industry to promote efforts to achieve a sustainable future.

The Mineral Development Taskforce reinforced the importance of Government working with Industry to build credibility, legitimacy and a level of acceptance in the Territory, as well as informing public commentary with correct facts.

Starting this month, the Territory Government will roll out informative and factual content about industry regulation and the importance of the sector for Territorians.

Led by the Department of Industry, Tourism and Trade, it will be underpinned by a new website that provides additional information about the sector. https://northernterritoryresources.com.au/

To view the updated critical mineral document and the new informative content visit  https://geoscience.nt.gov.au/gemis/ntgsjspui/bitstream/1/92851/2/Critical-Minerals-in-the-Northern-Territory-2024.pdf

Quotes attributable Chief Minister Eva Lawler:

“The resources sector is key to achieving our goal of a $40 billion economy by 2030.

“Having a strong and diversified economy means that we will have the revenue to enable investment back into Territory priorities and essential services such as secure energy supply, health, education, housing, and infrastructure.

“The Territory Government is sending a loud and clear message to investors that we are a world class destination for mining and we have the resources needed for low emission technologies. The new 2024 Critical minerals guide lists 17 critical minerals, with the addition of graphite and gallium, thanks in part to an investment by Transition Minerals down in the Barkly. This is Australia’s first gallium resource development.”

Quotes attributable to Minister for Mining, Mark Monaghan:

“The Territory’s mining and resources industry is the backbone of our economy, and creates more direct and indirect jobs than any other.

“The NT Government has an important role to build trust in the regulator to meet our responsibilities to do right by Territorians. We must also continue to work with Industry to keep Territorians informed about the role mining and resources has in the Territory and in their lives. 

“The Territory Labor Government’s steadfast focus remains on building a $40 billion, and this newly implemented Social Licence will ensure Territorians are informed and involved throughout the entire journey.”

Source: Northern Territory Government Newsroom

Drilling has begun on a second well in the Barossa gas field, 290km north-west of Darwin.

In its annual results released last week, South Australian-based resources company Santos said the second well was matching outcomes from the first, with strong gas flows and low carbon emissions.

According to Santos, the Barossa gas project is now 67 per cent complete with first gas expected in the third quarter of 2025.

The pipeline that will deliver gas from the field to Darwin LNG is now 68 per cent complete and more than 50 per cent of the pipe has been laid.

The company said initial well flow rates from the second drill were “in line with expectations” and carbon dioxide content was at the low end of the expected range.

The company anticipates that at full production, Barossa is expected to add 1.8m tonnes per annum to Santos’ expanding LNG portfolio.

Completed just after Justice Natalie Charlesworth’s historic January 15 finding that cleared the way for work to resume laying the pipeline past the Tiwi Islands, the report is upbeat about the project’s future.

It forecasts completion and integration of the floating production and storage offloading facility in the first-half of 2025 and complete installation and testing of the gas export pipeline.

Subsea flow lines will be installed and tested this year and construction will begin on the Darwin pipeline duplication that will connect the gas export pipeline to Darwin LNG plant.

The report also said Santos transitioned to supplying gas from Bayu Undan to the NT domestic market on November 30, although failed to mention when supplies would run out.

The plant itself is being isolated and hydrocarbons removed and the Darwin life extension project is 32 per cent complete and on track for completion in the first half of 2025.

The life extension project will prepare the Wickham Point LNG plant to switch from Bayu Undan field sourced gas to Barossa gas.

Santos chief executive Kevin Gallagher said projects like Barossa were the future of Australian energy generation.

“Our critical fuels are a necessary component in the energy security of Australia and Asia, and will be required to provide affordable and reliable energy while the world transitions to lower-carbon alternatives,” Mr Gallagher said.

Source: The NT News

To view the full article online, click here.

Clean, green power across the Territory is a priority of the Territory Labor Government.

The Wurrumiyanga Solar Infill and Energy Storage Pilot Project is another step closer to completion with the battery energy storage system currently undergoing testing in Berrimah.

Wurrumiyanga is already operating on some solar. This project will provide an additional 1.1 megawatt solar array, together with a 1.75 MVA battery energy storage system.

The battery system will provide 3 megawatt hours of storage capacity.

Once testing of the battery system is complete at Berrimah, it will be transported to Wurrumiyanga where another round of testing will take place to ensure successful integration with the grid.

The project is estimated to reduce diesel fuel consumption by 519,000 litres in the first year of operation by introducing additional renewable energy technology, with works expected to be completed by May 2024.

The $6.1 million Wurrumiyanga Solar Infill and Energy Storage Pilot Project is part of the Territory Labor Government’s commitment of $10.4 million to date for the Renewable Remote Power Program.

This project will contribute to the Territory Labor Government reaching our target of 50% renewable energy by 2030, which includes an average of 70% renewables in all communities supplied by the Indigenous Essential Services program.

Quotes attributable to Minister for Renewables and Energy Kate Worden

“The Northern Territory is in the process of transitioning to a future where renewable energy will play a greater role in our energy consumption.

“The Wurrumiyanga Solar Infill and Energy Storage Pilot Project will give the community cleaner power and reduce the need to rely on diesel generators.

“We are working towards our target of net zero emissions by 2050 and projects like this will play a significant role in achieving this.

Quote attributable to the Member for Arafura, Manuel Brown:

“It is great to see our largest community on Bathurst Island driving down emissions. Testing underway means my community will get more renewable energy soon.

“A renewables future is now one step closer for the Wurrumiyanga community and we look forward to extending the lessons learnt from this project to other remote Territory communities.”

Source: Northern Territory Government Newsroom

Related articles:

• Clean, affordable and green power for Wurrumiyanga
• NT Government: Wurrumiyanga Remote Power Project Underway

Link to Santos 2023 Full-year Results Video

https://www.santos.com/news/2023-full-year-results-video/

Source: Santos 

Tamboran Resources’ Managing Director and Chief Executive Officer, Mr Joel Riddle, will host a webcast to update the market on the Company’s Shenandoah South 1H (SS-1H) 30-day initial production (IP30) well test and ongoing operations in the Beetaloo Basin.

Time: 9:30am AEDT (Sydney, Melbourne)

Date: Monday, 26 February 2024

Webcast link (pre-register):

https://webcast.openbriefing.com/tbn-mu-2024/

A recording of the webcast will be available on the Tamboran Resources website following completion of the presentation.

Source: Tamboran Resources

To view the full ASX announcement, click here.

The Territory Labor Government will host a series of summits with businesses in each of regional centres over the coming months with the first summit to kick off in Katherine this week. 

The Territory Business Summits will be an opportunity to hear directly from Territory businesses on their ideas as well as for the Territory Government to ensure we are providing the right support to ensure the NT has a resilient and enterprising small business sector.

Focussing on issues such a worker shortages and business the growth, the summits will help inform the Territory Governments Small Business Strategy.

Following the Territory Business Summit in Katherine this Wednesday, 21 February 2024 the next business summit will be held in Alice Springs on Wednesday 28 February 2024.

In Darwin there will be an Indigenous Business Breakfast Summit on 7 March followed by a Business Breakfast Summit for all local businesses on 28 March

Territory Business Summits in Tennant Creek and Nhulunbuy will take place in late April to early May 2024 with more details coming soon.

Territory Government business support teams will also be attending the summits to provide information on the range of Northern Territory Government programs available to support your business needs.

For further information and to register head to: https://business.nt.gov.au/tbs

Quotes to attribute to Minister for Business and Jobs Joel Bowden:

“We want to make sure the Territory Labor Government hears directly the voices of our Territory business owners and together we are working to help build a strong and resilient economy for the Territory, and how we reach a $40 billion by 2030.

“The summits are a timely opportunity for business to connect directly with government and talk about their experiences and what they need from government to help them thrive in the future.

“Small businesses are the cornerstone of the Territory economy and we want to hear from you on how we can drive jobs, growth and better support the small business sector.”

Source: Northern Territory Government Newsroom

The Territory Labor Government is growing opportunities with our largest trade partner Japan, to create more local jobs and create a greener economy.

A Memorandum of Understanding (MoU) has been signed with Japan Bank for International Cooperation (JBIC) to further strengthen cooperation between our two jurisdictions on financing energy and infrastructure projects.

JBIC is a policy-based financial institution of Japan, and conducts lending, investment and guarantee operations while complementing the private sector financial institutions.

The MoU enables the Territory to hold regular dialogue with JBIC officials, to discuss cooperative potential projects between NT and Japan, which leads to increasing investment in the Territory, involving oil and gas, carbon capture, critical minerals infrastructure, hydrogen, ammonia, renewable energy and sustainable aviation fuels.

These high-level engagement opportunities will enable the Northern Territory Government and interested proponents, to position and promote the Territory as a reliable supplier of LNG, critical minerals, hydrogen and solar, to support the global energy transition and decarbonisation programs for Japan.

The MoU aims to:

• enhance closer economic relations between the Territory and Japan

• increase financial cooperation with JBIC in support of Territory projects across priority sectors

• work to address climate change concerns and strengthen coordination among like-minded countries.

Japan and Australia have a shared goal of achieving net zero by 2050.

In 2022-23 the value of goods NT exports to Japan increased by 27.3% to $7.7 billion, driven by increases in commodities prices for oil and gas and increased exports of metalliferous ores and metal scrap categories.

Quotes attributable to Chief Minister Eva Lawler:

“By signing an MOU with JBIC, the Territory Labor Government is attracting new investment into resource extraction, mineral processing and Carbon Capture and Storage.

“This is supported by a strong industry development focus, that underpins traditional sectors such as agriculture, mining and energy, maritime and tourism, to help grow local Territory business and jobs.

“There are clear opportunities to expand our relationship with our largest trading partner, to grow our economy and achieve net zero.”

Source: Northern Territory Government Newsroom

If you are a Northern Territory business, Aboriginal enterprise or not-for-profit organisation you can get help to reduce your day-to-day energy, water, waste and material costs through the Smarter Business Solutions program.

The program offers various types of support including:

• free advice on current efficient technologies and practices

• a free walk-through site survey to identify potential savings opportunities (not available at all locations)

• grants to encourage and support cost saving opportunities and initiatives:
• • up to $20,000 for the installation of eligible efficiency improvements 
  • up to $20,000 for the installation of off-grid renewable energy systems
  • up to $10,000 for the installation of on-grid renewable energy systems 

To find out more or to arrange a free walk-through site survey of your business, contact the Smarter Business Solutions Team on 1800 193 111 or businessinfo@nt.gov.au

Applications can also be made online at nt.gov.au/smarter-business-solutions 

Source: Department of Industry, Tourism and Trade

Highlights

• Conditional acquisition of a further 25% interest in the Mereenie gas field, Amadeus Basin, NT, Australia

• Doubles Mereenie 2P Total reserves and increases NZO's net 2P Total Reserves by 41%

• Upfront payment of A$42.5m, to be adjusted for revenues and costs from 1 April 2023,and further contingent payments of up to A$9m

• 100% vendor debt facility of up to A$63m covers all purchase and transaction costs,with additional availability to fund development activity

New Zealand Oil & Gas (ASX:NZO, NZX:NZO) has agreed to purchase from Macquarie Mereenie a further 25% equity interest in the Mereenie licenses, located in the Amadeus Basin in Australia's Northern Territory.

It will increase total 2P Group reserves by 41% to 23mmboe as at 1 July 2023. The acquisition will double the New Zealand Oil & Gas Group’s reserves and production from the Mereenie field.

View the full news release, click here.

Source: New Zealand Oil & Gas