The Northern Territory Department of Mines and Energy has announced the release of onshore petroleum acreage for 2016. Round 1 is the re-release of EPNT14-3 within the Beetaloo Sub-basin of the McArthur Basin.
EPNT14-3 was originally released in 2014 and covers 5,730 km2 south-east of Daly Waters. This parcel of land is located in one of the Territory’s most prospective areas for onshore petroleum and is expected to attract strong interest from within the industry.
The Northern Territory Government recently revised the method of releasing land for onshore gas exploration to ensure that where petroleum activities occur they are compatible with the government’s land use objectives.
Applications for the acreage will be considered based on the proposed program of exploration works for the permit area, the technical and financial ability to undertake the work, and the geological rationale.
The successful bidder will have the opportunity to apply for an exploration permit. As part of the exploration permit process the company will then negotiate access with Traditional Owners and Land Councils before a permit is granted.
Once the exploration permit is granted land access arrangements, environmental approvals and sacred site clearances will be completed before any work commences.
“This is the first step in a robust approvals process required for onshore exploration in the Territory,” said Executive Director for Energy Victoria Jackson.
Ms Jackson said it is an exciting time for the petroleum industry, with many major projects either underway or about to commence.
“Exploration is in its early stages but the geology is regarded as world class, the prospective geology is extensive, and major national and international petroleum companies are actively exploring.
“Potential onshore resources in the NT are estimated at more than 200 trillion cubic feet, and exploration success could bring significant benefits to the Territory economy in the future.”
A Re-release package is available at www.minerals.nt.gov.au
The invitation is open for applications until 4 August 2016.
Applications for EPNT14-3 should be made in accordance with section 16(3) of the Petroleum Act and the Notice of Invitation for Petroleum Exploration Permit Application.