The Northern Territory has conventional 2P reserves of around 132 billion cubic feet (bcf) of gas and 6 billion barrels (Bbbl) of oil and condensate, located in the Mereenie Field, Palm Valley and Dingo Fields of the Amadeus Basin. These fields also contain 2C resources of about 195 bcf. A further 18 bcf of stranded gas is located in the Bonaparte and McArthur Basins.
Central Petroleum and Santos are the major producers of gas from the Amadeus Basin, which is used domestically for power generation, minerals processing and a small amount of manufacturing.
Built on extensive infrastructure, networks and the expertise required to support resource projects capable of servicing Australian and international energy demands, Darwin is already recognized as Northern Australia’s principal oil and gas operations and maintenance hub.
Onshore gas reserves are connected to Darwin through the Amadeus Pipeline and to the eastern seaboard and soon through the Northern Gas Pipeline. Oil and condensates produced from Mereenie are shipped into South Australia for refining.
In addition to known reserves, unproven resources exceeding 200 trillion cubic feet (tcf) of gas and 20 Bbbl of oil and condensate in unconventional (shale) plays. These deposits, located primarily in the Beetaloo sub-Basin, are still being explored. Appraisal of these resources are expected to recommence in 2019 following the decision to lift the moratorium on hydraulic fracturing. Production from these fields may be expected to commence around 2023.
Development of these extensive shale fields has the potential to deliver unprecedented growth to the Northern Territory’s onshore oil and gas industry. As exploration and production increases, significant investment opportunities in associated service and supply sectors, in Darwin and its regional centres will occur.
Continued interest in developing the Northern Territory’s onshore oil and gas resources is driving expansion of the industry and inviting further investment opportunities in:
- new exploration and production projects capable of leveraging existing and prompting new infrastructure developments
- downstream industries that use oil and gas to produce LNG, LPG and chemical feedstocks
- an expanding supply and service sector that caters for all aspects of the oil and gas sector from exploration and development through to production.
Disclaimer: This web page includes information provided by third parties. The information is general in nature and is for information purposes only. The Northern Territory Government makes no representation about the veracity or accuracy of information provided by third parties. You must rely on your own due diligence before proceeding. You should consider seeking independent professional advice.