Northern Territory Releases New Oil and Gas Development Strategy

Mining Weekly reported that the Northern Territory government released its new oil and gas development strategy, which is aimed at guiding the industry’s future.
As quoted in the market news:

Chief Minister Adam Giles said on Wednesday that the strategy would set government on the right track to regulate this developing industry.
“The Territory government sees onshore gas exploration as providing significant economic benefits for Territorians, including potential employment, regional economic and infrastructure development, and for future royalties that will benefit all Territorians.”
“We want to engage with the oil and gas industry and the public both locally and nationally about the direction of the industry in the Northern Territory.
“The Northern Territory oil and gas industry has the potential to make a significant contribution to the Territory and Australian economies and will play an important role in providing energy security for our nation and strategic partners, particularly those in Asia.”
Giles said that it was a priority for the territory government to have information readily available to the public that was factual, based on science and relevant to the Northern Territory’s current onshore oil and gas activity.

Click here to read the full Mining Weekly report.