More than $170m private investment underpinned by NT gas

The Territory is in the midst of a private investment boom. Read what’s driving it.

More than $170m in private investment is flowing into onshore gas exploration and production in the Beetaloo Sub-basin and Amadeus Basin.

Mining and Energy Minister Gerard Maley said the significant investment mirrored activity in the Territory’s emerging gas province, with first gas expected in the second half of 2025, subject to regulatory approvals and successful appraisal outcomes.

Earlier this month Empire Energy announced it had secured a $65m Beetaloo financing package which would see an expansion of exploration, appraisal and development activities for its pilot project as well as commencement of drilling at its Carpentaria 5H well.

Tamboran Resources’ Shenandoah South pilot project in the Beetaloo.

As well as that Santos, which recently re-engaged with the Beetaloo after securing legal approvals for its Barossa development, has been conducting a 255km seismic survey across its Beetaloo assets.

The low impact survey is designed to gain a better understanding of the geology of the area to help planning for drilling and flow testing of two new wells.

This is additional to the $66m that will be spent building a 37km pipeline linking Tamboran Resources’ Beetaloo Basin gas assets with Territory’s north-south Amadeus pipeline.

Meanwhile, in the Amadeus Basin, west of Alice Springs, Central Petroleum and its joint venture partners continue to invest in gas production and increasing its supply to the Territory, with the drilling of two new wells this month.

Empire Energy’s Alex Underwood.

“This $170 million private investment is key to driving economic growth, supporting critical industries, and cementing the Territory as the preferred place to invest and do business in resource exploration, mining and gas production,” Mr Maley said.

“Developing these resources is pivotal, not only to rebuilding the Territory’s economy but also safeguarding our regional and national energy security.

“Investment like this is crucial to the development of the onshore gas industry in the Beetaloo Sub-basin, as well as to the expansion of existing production activities in the Amadeus Basin.”

Speaking on Sky News earlier this year, Empire Energy managing director Alex Underwood said Beetaloo gas could revolutionise Australia’s energy sector in the same way the resource changed the United States.

“They’ve got the cheapest gas in the world, but also they’ve started displacing coal production with gas, not due to government mandate but because of lower prices.,” Mr Underwood said.

“Their emissions are dropping as a result of it and the Beetaloo not only has the scale but also the geological characteristics to replicate that incredible boom in the US.”