Industry News

Link to Santos 2023 Full-year Results Video

https://www.santos.com/news/2023-full-year-results-video/

Source: Santos 

Tamboran Resources’ Managing Director and Chief Executive Officer, Mr Joel Riddle, will host a webcast to update the market on the Company’s Shenandoah South 1H (SS-1H) 30-day initial production (IP30) well test and ongoing operations in the Beetaloo Basin.

Time: 9:30am AEDT (Sydney, Melbourne)

Date: Monday, 26 February 2024

Webcast link (pre-register):

https://webcast.openbriefing.com/tbn-mu-2024/

A recording of the webcast will be available on the Tamboran Resources website following completion of the presentation.

Source: Tamboran Resources

To view the full ASX announcement, click here.

The Territory Labor Government will host a series of summits with businesses in each of regional centres over the coming months with the first summit to kick off in Katherine this week. 

The Territory Business Summits will be an opportunity to hear directly from Territory businesses on their ideas as well as for the Territory Government to ensure we are providing the right support to ensure the NT has a resilient and enterprising small business sector.

Focussing on issues such a worker shortages and business the growth, the summits will help inform the Territory Governments Small Business Strategy.

Following the Territory Business Summit in Katherine this Wednesday, 21 February 2024 the next business summit will be held in Alice Springs on Wednesday 28 February 2024.

In Darwin there will be an Indigenous Business Breakfast Summit on 7 March followed by a Business Breakfast Summit for all local businesses on 28 March

Territory Business Summits in Tennant Creek and Nhulunbuy will take place in late April to early May 2024 with more details coming soon.

Territory Government business support teams will also be attending the summits to provide information on the range of Northern Territory Government programs available to support your business needs.

For further information and to register head to: https://business.nt.gov.au/tbs

Quotes to attribute to Minister for Business and Jobs Joel Bowden:

“We want to make sure the Territory Labor Government hears directly the voices of our Territory business owners and together we are working to help build a strong and resilient economy for the Territory, and how we reach a $40 billion by 2030.

“The summits are a timely opportunity for business to connect directly with government and talk about their experiences and what they need from government to help them thrive in the future.

“Small businesses are the cornerstone of the Territory economy and we want to hear from you on how we can drive jobs, growth and better support the small business sector.”

Source: Northern Territory Government Newsroom

The Territory Labor Government is growing opportunities with our largest trade partner Japan, to create more local jobs and create a greener economy.

A Memorandum of Understanding (MoU) has been signed with Japan Bank for International Cooperation (JBIC) to further strengthen cooperation between our two jurisdictions on financing energy and infrastructure projects.

JBIC is a policy-based financial institution of Japan, and conducts lending, investment and guarantee operations while complementing the private sector financial institutions.

The MoU enables the Territory to hold regular dialogue with JBIC officials, to discuss cooperative potential projects between NT and Japan, which leads to increasing investment in the Territory, involving oil and gas, carbon capture, critical minerals infrastructure, hydrogen, ammonia, renewable energy and sustainable aviation fuels.

These high-level engagement opportunities will enable the Northern Territory Government and interested proponents, to position and promote the Territory as a reliable supplier of LNG, critical minerals, hydrogen and solar, to support the global energy transition and decarbonisation programs for Japan.

The MoU aims to:

• enhance closer economic relations between the Territory and Japan

• increase financial cooperation with JBIC in support of Territory projects across priority sectors

• work to address climate change concerns and strengthen coordination among like-minded countries.

Japan and Australia have a shared goal of achieving net zero by 2050.

In 2022-23 the value of goods NT exports to Japan increased by 27.3% to $7.7 billion, driven by increases in commodities prices for oil and gas and increased exports of metalliferous ores and metal scrap categories.

Quotes attributable to Chief Minister Eva Lawler:

“By signing an MOU with JBIC, the Territory Labor Government is attracting new investment into resource extraction, mineral processing and Carbon Capture and Storage.

“This is supported by a strong industry development focus, that underpins traditional sectors such as agriculture, mining and energy, maritime and tourism, to help grow local Territory business and jobs.

“There are clear opportunities to expand our relationship with our largest trading partner, to grow our economy and achieve net zero.”

Source: Northern Territory Government Newsroom

If you are a Northern Territory business, Aboriginal enterprise or not-for-profit organisation you can get help to reduce your day-to-day energy, water, waste and material costs through the Smarter Business Solutions program.

The program offers various types of support including:

• free advice on current efficient technologies and practices

• a free walk-through site survey to identify potential savings opportunities (not available at all locations)

• grants to encourage and support cost saving opportunities and initiatives:
• • up to $20,000 for the installation of eligible efficiency improvements 
  • up to $20,000 for the installation of off-grid renewable energy systems
  • up to $10,000 for the installation of on-grid renewable energy systems 

To find out more or to arrange a free walk-through site survey of your business, contact the Smarter Business Solutions Team on 1800 193 111 or businessinfo@nt.gov.au

Applications can also be made online at nt.gov.au/smarter-business-solutions 

Source: Department of Industry, Tourism and Trade

Highlights

• Conditional acquisition of a further 25% interest in the Mereenie gas field, Amadeus Basin, NT, Australia

• Doubles Mereenie 2P Total reserves and increases NZO's net 2P Total Reserves by 41%

• Upfront payment of A$42.5m, to be adjusted for revenues and costs from 1 April 2023,and further contingent payments of up to A$9m

• 100% vendor debt facility of up to A$63m covers all purchase and transaction costs,with additional availability to fund development activity

New Zealand Oil & Gas (ASX:NZO, NZX:NZO) has agreed to purchase from Macquarie Mereenie a further 25% equity interest in the Mereenie licenses, located in the Amadeus Basin in Australia's Northern Territory.

It will increase total 2P Group reserves by 41% to 23mmboe as at 1 July 2023. The acquisition will double the New Zealand Oil & Gas Group’s reserves and production from the Mereenie field.

View the full news release, click here.

Source: New Zealand Oil & Gas

Central Petroleum has secured a new gas sales agreement (GSA) with the Arafura Rare Earths group for the supply of up to 6.85 PJ of gas to its proposed Nolan’s Project in the Northern Territory over 5 years from 2026. The GSA is conditional on various conditions precedent being satisfied by Arafura by 30 June 2024, including confirmation of project approvals and a final investment decision. This new gas supply agreement allows Central to broaden its customer base across the NT and demonstrates the important role that our gas has to play in supplying customers in the Northern Territory. Arafura is developing the Nolans rare earth project, 135 kilometres north of Alice Springs, targeting one of the world’s largest undeveloped Neodymium and Praseodymium resources, critical to meeting rapidly growing global demand for electric vehicles and renewable energy technology. Central continues to provide reliable gas supplies to Australian businesses, and has entered into three new GSAs since September for the supply of over 8 PJ of gas to customers in northern Australia. To read the full release, click here. Leon Devaney MD & CEO Central Petroleum Limited Released by: Leon Devaney MD & CEO Central Petroleum Limited

The Territory Labor Government is supporting four local Territory start-ups and businesses to turn their innovative projects into commercial realities under the Business Innovation Program (BIP) 2.0.

BIP 2.0 is a business support program that assists Territory businesses develop and commercialise their innovative idea through funding and expert advisor support.

A key program under the Territory Business Innovation Strategy 2.0, BIP 2.0 grants are designed to accelerate commercialisation and innovation and help develop a $4 billion innovation ecosystem for the Northern Territory.

The BIP 2.0 round 3 projects and recipients include:

Go Locum awarded $ 30,000 to develop a mobile friendly marketplace connecting doctors with hospitals to fill urgent roster vacancies.

CastAway NT awarded $28,610 to develop a platform to strengthen diversity casting to Australia and the world through culturally appropriate First Nations-led skilling pathways and resources for producers and casting directors.

One Mile Brewery awarded $30,000 for their project Operation Liquid Nitrogen, which will see the operators produce Territory made non-carbonated beverages for Territory artisan beverage producers; and

Civil Tech Solutions awarded $30,000 for their project Automated Roadway Defect Detection and Condition Rating, a process of creating ‘digital twins’ of road and municipal infrastructure to ensure compliance, maintenance and safety for Territory roads and assist councils and Government.

BIP 2.0 includes 15 advisors from both the Territory and interstate to provide expert advice to BIP participants including Darwin Innovation Hub, Larrikin Interactive, ACTIO Group, Menzies School of Health Research and more.

The BIP 2.0 grant program is extremely competitive with this round receiving a record 26 business proposals. Territory start-ups or businesses that have an innovative idea can apply for support under Round 4.

Applications for round 4 of BIP 2.0 are now open and close at the end of April 2024. For more information and to apply head to nt.gov.au/bip

Quotes to attribute to Minister for Business and Jobs Joel Bowden:

“Harnessing innovation helps generates new ideas and technology, drives business growth, creates local jobs and attracts new investment which boosts our local economy.”

“The Territory Labor Government is supporting businesses to develop and commercialise their innovative projects through powerful programs such as BIP 2.0.

“Territory businesses are known for their ingenuity and passion and Round 4 of BIP 2.0 will help turbocharge another cohort of innovative projects invented right here in the NT.”

Quotes to attribute to One Mile Brewery co-owner Bardy Bayram:

“There is currently no facility in the Northern Territory to can non-carbonated beverages such as juices, spring-water, coffee and iced teas.

“Operation Liquid Nitrogen addresses this by adding the ability to not only can Territory-made beverages including our One Mile Brewery products but will also provide the technology for other Territory artisan beverage producers.”

Quotes to attribute to CastAway NT owner Sarah Price:

“CastAway NT’s vision is to make the Northern Territory the epicentre for diverse, groundbreaking talent.

“We are creating a new platform to support our incredible First Nations screen talent to create real careers and pathways in our domestic screen sector and supporting screen producers in creating culturally safe workplaces.

“It’s about getting talent ready for the industry and the industry ready for the talent.”

Ends

Source: Northern Territory Government newsroom

Photo caption: Kakadu Billabong Safari Camp © Tourism NT / Helen Orr

The Territory Labor Government is ensuring we continue to support industry and develop a modern skilled workforce for the Territory’s future with the Industry Skills Advisory Council NT (ISACNT) the successful recipient of the 2024-29 Workforce Advisory Grant.

ISACNT will receive $3 million per annum for the next five years to deliver workforce advisory services to both the NT Government and all industries across the Northern Territory.

The purpose of this funding is to support and grow our local businesses by supporting workforce development, addressing skill shortages and strengthening industry capability.

Of the five submissions received, ISACNT was assessed during a competitive grant assessment process as the strongest applicant by an independent panel.

As an independent not-for-profit, ISACNT specialises in gathering intelligence and provides advice on workforce development, training package development, skill shortages, and workforce solutions for industry. ISACNT’s purpose is to increase industry capability and capacity across the Territory.

Quotes to attribute to Minister for Business and Jobs Joel Bowden:

“ISACNT have a strong track-record in developing workforce solutions, training packages and providing expert advice to industry and the Territory Government.

“Their expertise in working with both local and national stakeholders ensures they understand and champion the Territory’s unique and complex needs in the national workforce and skills framework agenda.

“This funding will ensure ISACNT can continue to play a pivotal role in supporting government and industry to grow a skilled workforce, inform policy, programs and investment and play a major role in the Territory achieving our target of a $40 billion economy by 2030.”

Quotes to attribute to ISACNT CEO Amelia Nuku:

“This funding will ensure ISACNT can continue to support Government and industry in growing a skilled, agile and capable workforce.

“ISACNT looks forward to continuing to engage with peak industry bodies, industry and the training sector as well as provide advice to government to ensure the Territory’s priority skills, workforce gaps, challenges and opportunities are maximised.”

Ends

Caption L-R: M&J Builders Director Jessica Buckley, ISACNT CEO Amelia Nuku, M&J apprentice Brett Wilson, Minister Joel Bowden, M&J apprentice Kain Fuller and GTNT CEO Kathryn Stenson pictured at the new KFC site in Stuart Park. 

Background
NT Workforce NT Workforce Snapshot
NT Regional Workforce NT Regional Snapshots
NT Industry Snapshots NT Industry Snapshots

Source: Northern Territory Government Newsroom

The Northern Territory has the highest take up of solar battery storage in the country thanks to the Territory Labor Government’s Home and Businesses and Battery Scheme (HBBS), which makes the purchase and installation of batteries more affordable.

The HBBS has reached a major milestone with more than 2000 Territory homes and businesses with a rooftop solar system now having battery storage installed under the scheme. Over the past three years, the Territory has led the nation with more than 30% of rooftop solar systems installed including a battery. This is five times the national average.

Assisting Territorians with cost of living measures, the HBBS provides eligible home owners and businesses up to $5000 for the purchase and installation of a solar and battery system, or a battery if a solar system is already installed.

Since its launch in 2020, the HBBS has provided more the $12 million in funding for the purchase and installation of batteries to complement rooftop solar systems, and has directly contributed over $45 million of works to the Territory economy.

The number of applications received has grown each year with 970 applications submitted in 2022-23.

In 2023-24, the program has $3 million dedicated towards it to help more Territorians install a solar and battery system.

The installation of a battery system reduces electricity bills for households and businesses, and improves the reliability and security of the electricity system by smoothing out demand from the grid.

The success of the HBBS has also had a positive effect on the Territory’s renewable energy industry, providing valuable experience for installers and building understanding of local markets, supply chains and technical requirements.

Quotes attributable to Chief Minister Eva Lawler:

“The Territory Labor Government will always invest in programs that help the hip pocket of Territorians. We also want Territorians to have access to the latest and best technology as we build a stronger and more resilient power system for Territory households and businesses.

“More than 2000 Territory homeowners and businesses have taken part in the Home and Business Battery scheme, assisting Territorians with their cost of living while we also work towards our renewables target.

“This program has also created much needed economic stimulus, contributing over $45 million to the Territory economy.”

Quotes attributable to Minister for Renewables and Energy Kate Worden:

“The Northern Territory climate is conducive to producing reliable solar energy, and this scheme helps for this natural asset to reduce our reliance on fossil fuels and eases cost of living pressures.

“The Territory Labor Government is focussed on delivering programs that provide affordable, clean and reliable power.

“This scheme is one way we are building towards meeting our target of 50% renewable energy by 2030.”

Source: NT Government newsroom