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  • 08 Aug 2023 1:53 PM | Stephanie Berlin (Administrator)

    The Territory Labor Government is powering towards our goal of a cleaner, greener, net-zero future.

    Jacana Energy is seeking Expressions of Interest (EOI) for the supply of up to 100 megawatts (MW) of renewable energy for the Darwin-Katherine region.

    The proposed investment will contribute as much as 15 percent towards the Territory Labor Government’s renewable energy target of 50 percent by 2030, enough renewable energy to power 21,000 Territory homes in one year.

    A key point of difference with this EOI is that proponents are being asked to consider connecting at specific locations within the greater Darwin area that are consistent with the location of the NT Government’s Renewable Energy Hub.

    The EOI is the first step in a comprehensive process to procure and safely connect and commission more large-scale renewable energy closer to Darwin.

    Ongoing investment in renewable energy infrastructure is vital and projects like this EOI and the Renewable Energy Hub aim to increase the amount of renewable energy supplied to Territorians.

    A project of this scale is likely to attract more than $200 million in additional investment to the Territory, whilst creating a further 150 jobs during the height of construction.

    Once the procurement process is complete, Territorians could expect renewable energy from these solar farms to be generated from around 2027.

    The EOI will open on Tuesday 22 August 2023 with submissions required by 26 September 2023.

    For more information interested proponents can visit www.jacanaenergy.com.au

    Quote attributable to Acting Minister for Renewables, Eva Lawler:

    “Our Territory Labor Government is dedicated to creating and sourcing new, permanent, and long term renewable energy.

    “We have always said sustainability is at the core of what we do, and this EOI for 100MW more of renewable energy will take the Territory to the next level.

    “Jumpstarting the procurement process now ensures that we will be able to make an investment that supports the delivery of renewable energy well before 2030”.

    Quote attributable to Jacana Energy CEO, Louisa Kinnear:

    “Our customers want clean, affordable energy. Kicking off a procurement process now ensures that we will be able to make an investment decision that supports the delivery of renewable energy well before 2030.”

    “The addition of more large-scale solar is a major part of the Darwin-Katherine Electricity System Plan and our EOI is designed to procure renewable energy in way that aligns with this Plan.”

    Source: NT Government Newsroom

  • 07 Aug 2023 12:46 PM | Stephanie Berlin (Administrator)

    Bayu-Undan joint venture and TIMOR GAP sign MOU to cooperate on Carbon Capture and Storage 

    Santos and its Bayu-Undan joint venture partners have signed a Memorandum of Understanding (MOU) with Timor-Leste’s national oil company TIMOR GAP to explore partnership opportunities for the proposed Bayu-Undan carbon capture and storage (CCS) project offshore Timor-Leste.

    The MOU follows four non-binding MOUs for CO2 supply to Bayu-Undan CCS that indicate demand for CO2 storage at Bayu-Undan CCS could be more than 10 million tonnes per annum (Mtpa).

    The MOU with TIMOR GAP includes sharing information about Bayu-Undan CCS and exploring potential partnership opportunities, including equity participation for TIMOR GAP in the Bayu-Undan CCS project.

    Santos Managing Director and Chief Executive Officer Kevin Gallagher said Bayu-Undan CCS is well positioned to provide future carbon management services to the Asia Pacific region.

    “This could be an exciting new industry for Timor-Leste, putting it at the leading edge of the global energy evolution and generating revenue, local jobs and business opportunities for the nation,” Mr Gallagher said.

    “Santos and our joint venture partners are delighted to be working with TIMOR GAP on partnership opportunities to advance Bayu-Undan CCS as a carbon storage hub for customers in Australia, Japan, Korea and across Asia as those countries seek to decarbonise their economies.

    “This MOU is yet another agreement highlighting the strong interest in carbon capture and storage, and its broad acceptance as a safe, proven technology that is absolutely critical to achieving the world’s climate goals.

    “We look forward to working with TIMOR GAP and the Timor-Leste and Australian governments to progress the necessary commercial, fiscal and legislative arrangements to support the development of the Bayu-Undan CCS project.”

    Bayu-Undan CCS ex-Darwin will provide a cost-competitive carbon solution because of its large scale and ability to utilise existing pipelines and other infrastructure.

    In addition, the storage reservoirs are well understood, have previously held gas and condensate in place for tens of millions of years, and will provide safe and permanent CO2 storage.

    The project has the potential to reduce the absolute emissions and emissions intensity of Australian and Timor-Leste gas and LNG projects, as well as other hard to abate industries in the region.

    It also means that Australian and Timor-Leste gas and LNG projects will have a competitive advantage in a low-carbon world, with the potential to offer abated gas as a premium product for customers.

    The Bayu-Undan CCS project is part of Santos’ three-hub CCS strategy that includes the Moomba CCS project, now 70 per cent complete and on track to store up to 1.7 million tonnes of CO2 per year commencing in 2024.

    Santos has a 43.4% operated interest in Bayu-Undan. The remaining interest is held by SK E&S (25%), INPEX (11.4%), Eni (11%) and Tokyo Timor Sea Resources (9.2%).

    To view full release, click here.

    Source: Santos

  • 04 Aug 2023 1:43 PM | Stephanie Berlin (Administrator)

    Highlights

    • C-3H was re-opened on 3 August 2023 for extended production testing following a five-month shut-in for soaking
    • Empire expects testing to continue for up to 90 days
    • Empire has recommenced flow testing at C-3H to extend its understanding of the production characteristics of the Velkerri Formation to refine its early production type curve analysis and continue building the knowledge base regarding optimal fracture stimulation design
    • Empire continues working towards the Carpentaria Pilot Project final investment decision this year 

    To view full operations update, click here.

  • 03 Aug 2023 1:27 PM | Stephanie Berlin (Administrator)

    THE federal government has finally progressed legislation in Parliament to provide a further framework to allow carbon capture and storage offshore in Australian commonwealth waters.

    The Environment Protection (Sea Dumping) Amendment (Using New Technologies to Fight Climate Change) bill was read for a second time last night.

    The bill will allow permits for Woodside Energy and Santos to progress their respective offshore CCS projects in the North of Australia.

    Woodside CEO Meg O'Neill has previously stated that a lack of regulatory and policy settings has delayed CCS projects including the potential of the depleted Angel field on the North West Shelf.

    In September last year, Woodside announced it was leading a venture consisting of Japan Australia LNG, Mitsubishi Corp, Mitsui, Shell and Chevron in the northern portion of the Carnarvon Basin within exploration permit G-10-AP.

    It will look to inject CO2 from its other operations, and potentially third-party emissions, into the now depleted Angel gas field. This would take emissions from the Karratha Gas Plant and Pluto LNG facility.

    According to Geoscience Australia the Angel field could store around 5Mtpa of CO2

    However, in recent months, Woodside's CEO Meg O'Neill has said a lack of government support or "carrots" and financial incentives has failed to fast track this project.

    The bill before Parliament aims to provide further business certainty for project's like the Angel field.

    It will amend the existing sea dumping act to implement the 2009 and 2013 amendments to the London protocol.

    Last night, during the second reading and debate of the bill, federal resources minister Madeleine King said reaching net-zero would be "virtually impossible without carbon capture and storage".

    "Despite what many may think and have said, CCUS is in fact a proven technology," King told parliament.

    "To put Australian CCUS projects in a competitive position and to back in our research efforts and unlock more private sector capital, it is imperative that we invest in our regulatory frameworks to ensure that they are fit for purpose."

    King said the legislation would ensure a "commercial pathway" for transboundary CCS projects.

    She was referring to Santos' Bayu-Undan gas field which is reaching end of life.

    In the offshore Bonaparte Basin, Santos is leading the charge for its rapidly depleting Bayu-Undan gas fields in the Timor Sea to store CO2 from its Barossa gas development along with third-party CO2.

    The field lies across Australian commonweal waters as well as Timor Leste waters.

    Front-end engineering design work to convert it into a carbon sequestration project is almost complete.

    The project is considered an "advanced development" by Geoscience Australia and is expected to begin injecting carbon from 2027.

    "Revenue from the Bayu-Undan gas field, located in the Timor Sea about 500 kilometres north of Darwin, has been a major contributor to the economy of Timor-Leste over 16 years, but the Bayu-Undan reservoir is now depleted of that resource," minister King said.

    "As a reservoir that safely held gas for millennia, it is eminently suitable to return to that role and hold gas, this time CO2, for further millennia.

    "This government will always be a strong supporter of Timor-Leste's economic independence and resilience. It is therefore essential that our regulatory settings enable consideration of a commercial pathway for CCUS in the Bayu-Undan field."

    Bill facing backlash from cross bench

    While the Labor government has support from the opposition for the legislation, its passage will require the support of the Greens in the Senate where the minor party holds 12 seats.

    The Greens are often aligned with ‘teal' independents on issues of environmental importance.

    In the lower house, where the bill was being debated last night, these ‘teal' MPs provided a glimpse of what could come in the Senate.

    Independent MPs Zoe Daniel, Sophie Scamps, Monique Ryan, and Kylea Tink all rose to object to the passage of the bill.

    "This bill is a key enabler of the gas industry's plans to significantly expand Australia's engagement with carbon capture and storage in Australia and its import and export of CO2 across international borders," Monique Ryan said.

    "CCS and the global trade of CO2 streams are crucial to the gas industry's global strategy to gain social licence by appearing to act on climate whilst simultaneously opening up new fossil fuel projects against the explicit advice of bodies such as the International Energy Agency and the IPCC.

    "This bill aims to facilitate the greenwashing of fossil fuel expansion plans in Australia."

    Zoe Daniels pointed to Chevron's Gorgon CCS project in WA saying that while it had successfully inject 8 million tonnes of CO2, it came online late and over cost.

    "It is universally recognised as a monumental failure," Daniels said.

    "By mid-2020, Chevron had spent a staggering $3 billion on that CCS technology, making it one of the costliest CCS facilities in the world, and it didn't even work."

    Source: ENB Energy News Bulletin

  • 02 Aug 2023 12:36 PM | Stephanie Berlin (Administrator)

    The Territory Labor Government is establishing the Territory as a renewable energy powerhouse and the Middle Arm Precinct is a crucial element of this plan.

    This week the Territory Government has signed a Memorandum of Understanding (MoU) with Larrakia Energy and Korea Midland Power Co. to work in co-operation to achieve the rapid, efficient and effective development of the Green Energy Project.

    Larrakia Energy is a Northern Territory company owned and managed by Larrakia Development Corporation (LDC) and Western Australia based renewable energy company, Progressive Green Solutions Pty Ltd (PGS).

    The Green Energy Project includes the scoping, construction and operation of a 300MW photovoltaic power plant (also known as a solar farm) on land in the Greater Darwin Area in close proximity to the Middle Arm Sustainable Development Precinct.

    The two-year agreement strengthens local and international ties and formalises the relationship with the Territory to complement the proponent’s own expertise in renewable energy, project development and financing. 

    The Middle Arm Precinct is a game changer for the Northern Territory and is set to create 20,000 local jobs and generate billions of dollars into our economy.

    Quote attributable to Minister for Infrastructure, Planning and Logistics, Eva Lawler:

    “By capitalising on every opportunity and creating strong relationships the Northern Territory has what it takes to be a thriving economy and reach our goal of a $40 billion economy by 2030.

    “The Green Energy Project has the potential to create thousands of jobs and increase our sustainable energy production for countless years to come.

    “Our focus on clean energy will drive us long into the future as we become leaders in the green energy sector”.

    Quote attributable to Chief Executive Officer of Larrakia Development Corporation, Nigel Browne:

    "Today's MOU signing is an important step in achieving the government's vision for the Northern Territory's renewables future. 

    Through dedicated work being undertaken by Larrakia Energy, we are bringing together the resources and goodwill needed to lower emissions and care for Country, on Larrakia Country."

    Source: NT Government Newsroom

  • 02 Aug 2023 12:30 PM | Stephanie Berlin (Administrator)

    Northern Territory business and government leaders have come together in Canberra to showcase their industries and talents and to urge the federal government and Australia to face north.

    Organised by the Darwin Major Business Group and the Northern Territory Government, the Facing North Forum highlighted the NT’s strategic, economic, commercial and cultural capacity, and demonstrated how business and government can work together to accelerate NT development.

    The annual forum returned after a three-year break due to the COVID pandemic, providing business leaders with an opportunity to discuss key initiatives for Northern Australia, including the refresh of the 2015 White Paper on Developing Northern Australia.

    Minister for Resources and Northern Australia Madeleine King said the White Paper refresh will centre on the north’s growing contribution to the Australian economy, as well as opportunities for First Nations communities and businesses, and opportunities for climate adaptation in the north.

    “The Northern Territory’s vital contribution to our north and our nation cannot be overstated,” Minister King said.

    “With a population of around 250,000, the NT contributes an impressive $61.5 billion to the Australian economy.

    “The Northern Territory’s globally significant critical mineral reserves and renewable energy sources will help the nation drive the development of Australia’s future net-zero economy.

    “The Northern Australia Infrastructure Facility (NAIF) will continue to drive economic opportunity in the north with $7 billion in finance for transformation infrastructure projects, including for crucial critical minerals projects.”

    For more information on how the Government is delivering for the north, visit www.infrastructure.gov.au/territories-regions-cities/regional-australia/office-northern-australia.


    The Hon Madeleine King MP

    Minister for Northern Australia

  • 02 Aug 2023 12:20 PM | Stephanie Berlin (Administrator)

    Tamboran signs four LOIs for 510 – 750 TJ per day with potential East Coast gas buyers

    Highlights

    • Tamboran Resources has signed four separate non-binding Letters of Intent (LOIs) with Origin, AGL, EnergyAustralia and Shell Energy Australia (together the “Parties”) to potentially purchase in aggregate 510 - 750 TJ per day (185 – 270 PJ per annum) of gas from Tamboran’s low-reservoir CO2 Beetaloo Basin gas assets for a period of up to 10 – 15 years.
    • Tamboran will separately work with the Parties toward executing separate binding fully termed Gas Sales Agreements (GSAs), including purchase price, transport arrangements and other key commercial terms.
    • First gas is targeted to commence in 2028, subject to commercial flow rates from Tamboran’s Beetaloo Basin assets.
    • The binding GSAs support the progress of APA Group’s (ASX: APA) proposed pipeline between the Beetaloo Basin and the East Coast gas transmission network.
    • APA has commenced preliminary land access approvals and pre-engineering studies with the objective of potentially connecting the Beetaloo Basin to the existing East Coast Gas Grid.
    • The LOIs demonstrate the ongoing importance of natural gas in Australia’s energy mix. 

    To view full ASX announcement, click here.

  • 01 Aug 2023 12:17 PM | Stephanie Berlin (Administrator)

    H&P rig spuds Shenandoah South 1H and Amungee 2H update

    Highlights

    • Tamboran has successfully commenced drilling of the Shenandoah South 1H (SS1H) well with the Helmerich & Payne, Inc. (H&P), (NYSE: HP), super-spec FlexRig® Flex 3 Rig.
    • The SS1H well is targeting the deeper Mid-Velkerri “B Shale” in EP 117. The deeper shale is expected to host higher pressures and therefore deliver higher flow rates than the Amungee 2H (A2H) well location in EP 98.
    • Drilling activity is expected to take ~45 days, including a pilot hole and 1,000-metre horizontal section. The stimulation program is planned to commence during the fourth quarter of 2023.
    • On completion of the SS1H flow testing, Tamboran and Daly Waters Energy LP will complete the farm-in requirements to earn the 77.5 per cent interest (38.75 per cent each) and operatorship of the EP 76, 98 and 117 permits. Falcon Oil and Gas Australia Limited will hold 22.5 per cent.
    • Success at the SS1H well location could support the pilot development investment decision, which includes use of the Clean Energy Fuels Australia (CEFA) facilities and APA Group (ASX: APA) pipeline to the Amadeus Gas Pipeline (AGP). Tamboran is targeting first domestic gas sales from the pilot development by the end of 2025.
    • Fluid lab analysis from the A2H well is ongoing with remedial intervention work planned for later this year, subject to joint venture approvals. The intervention is likely to coincide with activities at the Amungee well pad where the JV is planning to drill the Amungee 3H well following SS1H.

    To view full ASX announcement, click here.

  • 28 Jul 2023 12:42 PM | Stephanie Berlin (Administrator)

    Amadeus Basin – Palm Valley And Dingo Field Reserves Upgrades

    Highlights

    • 2P Total Reserves increase of 14% at Palm Valley to 2.1 million barrels of oil equivalent (mmboe), associated with the successful drilling and flow performance of the PV-12 well.
    • 2P Total Reserves increase of 13% at Dingo to 3.5mmboe, owing to ongoing strong performance from the wells and additional modelling work.

    New Zealand Oil & Gas Limited (ASX:NZO)(NZO) and the other Joint Venture partners have upgraded their reserves in the Palm Valley and Dingo gas fields in the Amadeus Basin, Northern Territory, central Australia.

    New Zealand Oil & Gas Chief Executive Andrew Jefferies says the reserves upgrade is significant news for the Company.

    “It’s great to see hard work pay off in reserves additions” says CEO Andrew Jefferies “drilling at Palm Valley and some excellent technical work has shown there is more gas in the ground in our Amadeus Basin assets. These assets provide much needed energy for both Central Australia which is working hard to provide the e-materials we need to transition; and the East Coast which is moving off coal to unreliable wind and solar, with gas the only sensible option to fill in the ever-widening gap. Gas is a three-letter word for transition.”

    To view the full announcement, please see News Release

    Source: New Zealand Oil & Gas

  • 26 Jul 2023 12:13 PM | Stephanie Berlin (Administrator)

    Fourth quarter activities report for period ended 30 June 2023

    Highlights

    • The Northern Territory Government granted Tamboran exclusivity over 170-hectares (420-acres) on the Middle Arm Sustainable Development Precinct (Middle Arm) for a proposed LNG development, Northern Territory LNG (NTLNG).
    • Tamboran selected APA Group (ASX: APA) as the preferred transmission pipeline partner. The parties will work towards jointly developing pipelines to connect Tamboran’s Beetaloo Basin assets to Australia’s domestic East Coast gas market and Tamboran’s proposed NTLNG development.
    • Tamboran announced two non-binding MOUs with bp and Shell to each purchase up to 2.2 million tonnes of LNG per annum (MTPA) over a 20-year period from the proposed NTLNG development.
    • Tamboran entered a framework agreement with Clean Energy Fuels Australia (CEFA) group of companies to obtain exclusivity over gas compression, liquefaction and mini-LNG facilities for potential early production from the Beetaloo Basin.
    • During the quarter, the Amungee 2H (A2H) well in EP 98 achieved gas breakthrough. Modelling and independent third-party analysis of fluids recovered from the well have identified potential skin with options to clean up the well being evaluated, subject to JV approval.
    • Tamboran completed analysis of flow tests from the Tanumbirini 2H (T2H) and 3H (T3H) wells in EP 161 (Tamboran 25 per cent). The independently modelled decline curves demonstrated a 20- year Estimated Ultimate Recovery (EUR) of approximately 16.8 billion cubic feet (BCF) and 18.5 BCF, respectively, in-line with the most productive regions of the Marcellus Basin, USA.
    • In June, Tamboran announced a $71.4 million capital raise to fund further drilling activity at Shenandoah South and Amungee. The raise included a placement of $53.2 million (before costs) at $0.18 per share, a $13.3 million Convertible Note with Helmerich & Payne (H&P) and a Share Purchase Plan to raise up to $5 million.
    • At 30 June 2023, the Company had a cash balance of $10.6 million

    To view full ASX Announcement, click here.

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