The Australian government on March 18 announced the launch of new grants to support further exploration of the Northern Territory’s (NT) Beetaloo basin. 

Minister for resources, water and Northern Australia Keith Pitt said A$50mn (US$39mn) in grants would be provided through the Beetaloo Cooperative Drilling Programme. 

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“The program is expected to deliver approximately 10 additional exploration wells in the Beetaloo by 2022, and bring forward at least A$150mn of private investment from companies,” Pitt said. “This Commonwealth grants programme will support gas operators to speed up exploration and development of the Beetaloo basin.”  

The minister added that these grants would support the government’s agenda to bring gas from these resources into the market by at least 2025.  

Senator for the Northern Territory, Sam McMahon, said the grants will be a major local economic driver. “This investment by the Morrison-McCormack government will provide new opportunities for thousands of Territorians and ensure the NT can emerge from the COVID-19 pandemic in a strong position,” McMahon said.  

The Beetaloo Cooperative Drilling Programme will provide grants of between A$750,000 and A$7.5mn, up to a total of A$50mn, to gas companies to support exploration that occurs before December 30, 2022.