Tamboran Resources Corporation (OTC:TBNRF, ASX:TBN) has received acknowledgement of the significance of its Beetaloo Basin gas strategy with the Northern Territory Government (NTG) awarding the development Major Project Status.
As well as acknowledgement of the Beetaloo Basin’s significance to the Territory’s economic prosperity, Major Project Status provides continuing support for Tamboran as it progresses its local development plans.
First gas for NT
First gas from the project will be supplied to Territorians ahead of the target East Coast domestic gas and LNG export projects.
The status also provides regulatory approval process mapping and a dedicated project case manager to assist with coordinated and streamlined communications within Government.
“Recognition of Major Project Status demonstrates NTG’s support for the development of the Beetaloo Basin," Tamboran Resources managing director and CEO Joel Riddle said.
"It also recognizes Tamboran’s commitment to work closely with the Government to ensure the benefits of our development are delivered to all stakeholders within the Territory.”
Largest acreage holder
The recognition of Major Project Status demonstrates the NTG’s support for Tamboran’s integrated development of the Beetaloo Basin that aims to provide energy security and significant job opportunities for the people of the Northern Territory.
Tamboran Resources, through its subsidiaries, is the largest acreage holder and operator with approximately 1.9 million net prospective acres in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia.
The company is focused on playing a constructive role in the global energy transition towards a lower carbon future, by developing a significant natural gas resource within the basin.
“Economically significant”
“We look forward to working closely with the Government in ensuring our development plays a major role in achieving the NTG’s long-term economic plan, including the potential for the Beetaloo Basin to support 13,000 jobs and increase economic activity by A$17 billion by 2040,” Riddle said.
“The Beetaloo Basin is an economically significant project for the Northern Territory, which is expected to deliver energy security and job opportunities to Territorians, and millions of dollars in royalties to Native Title Holders and the NTG for decades to come.”
Pilot project
Tamboran’s key assets include a 38.75% working interest and operatorship in EPs 98, 117 and 76, a 100% working interest and operatorship in EP 136 and a 25% non-operated working interest in EP 161, which are all in the Beetaloo Basin.
Primary focus at present is on the proposed Shenandoah South Pilot Project, where Tamboran has a minimum of 47.5% working interest and is targeting first production in H1 2026, and the proposed Northern Territory LNG development at Middle Arm in Darwin, targeting first production by the end of 2030.