An interim report of the Northern Territory’s Beetaloo Basin estimates that gas resources in the region could mean thousands of new jobs for the state.
Australian Petroleum Production and Exploration Association (APPEA) Northern Territory Director, Cassy Schmidt, said the Beetaloo Basin is only in the exploration phase but if it is found to be economically viable, will create long-term economic opportunities.
“A Deloitte study says the Beetaloo could potentially provide 6,300 full time jobs, a $1 billion increase in revenues projected to the Northern Territory Government over the period 2020-2040 and $22.4 billion in economic growth in the Territory (measured by Gross Territory Product) between 2020 and 2040,” Ms Schmidt said.
“According to Geoscience Australia, the ‘best estimate’ of prospective shale gas resources in the Northern Territory is approximately 275,211 petajoules – or 259.7 trillion cubic feet – equivalent to almost 300 years of Australian domestic gas demand.
“The economic benefits of developing the Beetaloo will flow to Darwin, Katherine and regional communities as well as a future self-generating revenue stream by way of royalty payments to the Northern Territory Government.
“Australia’s oil and gas industry is committed to employing and training local Aboriginal people and procuring goods and services from Aboriginal owned and operated businesses.
“The gas industry has a demonstrated track record of safe, sustainable operations throughout Australia, which is supported by the many robust regulatory frameworks industry complies with across states and territories.”