With onshore gas drilling in the Northern Territory, the local and national economy is set to see a considerable boost.
Small-scale fracking in the Beetaloo Basin is set to create around 6,500 new full-time jobs. This will help to improve the economy within the territory over the next 25 years. The estimated amount that the drilling will bring in has been reported as $2.8 billion for the territory and over $9 billion for the nation.
With funding of $8.4 million put in place through a federal budget pledge made in 2019, The Origin Beetaloo Exploration Project is a multi-year project that has engaged and consulted with the traditional owners throughout.
The project will open up many possibilities to local businesses and suppliers who will be needed to help support the project by providing relevant supplies and support.
Through regular meetings with the Northern Land Council and the Native Title holders is has been possible to agree on a project that will not only benefit the local economy by providing much-needed jobs in the area, but it will also benefit the nation by providing valuable resources.
The Beetaloo Basin is situated 500kms from Darwin and the area includes land owned and inhabited by indigenous communities.
It is estimated that around 70% of the Northern Territory's shale gas resources are situated in the Beetaloo Basin.
The amount of share gas found in Beetaloo could push Australia’s ranking in terms of global gas resources from seventh place up to sixth.