Australia signs A$19.4mn deal to support drilling in Beetaloo
Australian government said on February 23 it had signed three grant agreements worth a combined A$19.4mn ($14mn) to support gas exploration in the Northern Territory’s Beetaloo sub-basin.
Minister for resources and water Keith Pitt said under the Beetaloo Cooperative Drilling Programme, the grants will support exploration company Imperial Oil & Gas, a unit of Sydney-listed Empire Energy, to continue drilling three exploration wells.
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Minister Pitt said this is an important step following the conclusion of the recent federal court action. In December, the court rejected claims made in proceedings by an activist organisation Environment Centre NT Inc against the government’s Beetaloo Cooperative Drilling Programme. Imperial Oil & Gas was joined to the case because it is a party to grant agreements.
“The government is committed to a gas-led recovery and we are now getting on with the job of opening up the Beetaloo as part of the Strategic Basins Plan and these grants will assist in that important process,” Pitt said.
“The Beetaloo sub-basin has the potential to be a world class gas resource, that could create thousands of jobs and bolster domestic and international gas supply,” he added.