$4.7 billion NT gas investment to create 600 jobs, unlock new business, export opportunities

SANTOS’ decision to approve its $4.7 billion Barossa gas project in the NT will create 600 jobs and unlock new Territory business and export opportunities

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RESOURCES, Water and Northern Australia Minister Keith Pitt has welcomed Santos’ final investment decision to develop the Barossa Gas Field, 300km north of Darwin.

Mr Pitt joined Santos chief executive Kevin Gallagher, NT CLP Senator Sam McMahon and Deputy Chief Minister Nicole Manison in Darwin on Tuesday morning to mark the significant milestone for the $4.7bn Barossa LNG backfill project and the Darwin LNG facility.

“The final investment decision for the Barossa project is a tremendous show of confidence in the long-term future of Australia’s resource sector,” Mr Pitt said.

“It is also a great sign that oil and gas market conditions have improved.

“As the Minister for Northern Australia, the undertaking provided by Santos that operational staff will be based in the Northern Territory is especially welcomed – ensuring that more of the benefits flowing from the project are captured here in the Territory.”

Senator Sam McMahon. Senator for Northern Territory. Country Liberal Party.

Mr Gallagher said the project would unlock new business and export opportunities for the nation.

“As the economy re-emerges from the COVID-19 lockdowns, these job-creating and sustaining projects are critical for Australia,” Mr Gallagher said.

“The Barossa and Darwin life extension projects are good for the economy and good for local jobs and business opportunities in the Northern Territory.”

The Barossa gas project is expected to produce an average of 3.5 million tonnes of LNG a year, providing valuable LNG export revenue, secure jobs and business opportunities in Darwin.

Barossa and Darwin LNG life extension will create 600 jobs throughout the construction phase and secure 350 jobs for the next 20 years of production at the Darwin LNG facility.

Senator McMahon said the project would be a major economic boost to the Territory and provide much-needed jobs.

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“The announcement of the development of this field, with gas and particularly condensates so close to Darwin, will provide opportunities for us to capitalise on value adding with new industries,” she said.

“The NT is uniquely placed to develop a thriving petrochemical industry, amongst others, on the back of this announcement. It comes at a time when the NT couldn’t need it more, our economy was in tatters before COVID and we desperately need business and industry to get us back on track.”

The world-class Barossa field contains over 4.5 trillion cubic feet of recoverable gas resources and nearly 50 million barrels of condensate.

This field will provide backfill gas for the Darwin LNG facility at Wickham point, ensuring that Darwin LNG remains operational for the next 15-20 years.

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