Tamboran's Beetaloo Basin development awarded Major Project Status by the Northern Territory Government
Tamboran's Beetaloo project awarded Major Project Status
Sydney, June 19, 2024 AEST (ABN Newswire) - Tamboran Resources Corporation's (
ASX:TBN) (TBNNY:OTCMKTS) development of the Beetaloo Basin has been awarded Major Project Status by the Northern Territory Government (NTG).
Major Project Status provides Tamboran with significant benefits, including;
- NT Government acknowledgement of the Beetaloo Basin's significance to the Territory's economic prosperity,
- continuing support for Tamboran as it progresses its local development plans in the Beetaloo Basin, with first gas being supplied to Territorians ahead of the target East Coast domestic gas and LNG export projects,
- regulatory approval process mapping, and
- a dedicated project case manager to assist with coordinated and streamlined communications within Government.
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 Corporation Managing Director and CEO, Joel Riddle, said:
"Recognition of Major Project Status demonstrates NTG's support for the development of the Beetaloo Basin. 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.
"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.
"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."
About Tamboran Resources Corporation
Tamboran Resources Corporation (ASX:TBN) is a natural gas company that intends to play a constructive role in the global energy transition towards a lower carbon future by developing low CO2 unconventional natural gas resources in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. Tamboran's key assets are a 25% working interest in EP 161 and a 100% working interest in EP 136, EP 143 and EP(A) 197 which are located in the Beetaloo Sub-basin.
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