The grants are part of the Australian government’s Beetaloo Strategic Basin Plan to bring gas from the Beetaloo’s resources into the market by 2025.
Australian Petroleum Production and Exploration Association (APPEA) Chief Executive Andrew McConville said the grants, which will be provided through the Beetaloo Cooperative Drilling Program, would particularly help smaller exploration companies to continue playing a critical role in the identification and development of new energy resources.
“The Government’s new grants programme will support natural gas exploration and development in the Beetaloo Basin, which has world class reserves,” McConville said.
“Successful exploration is essential to bringing more gas supply to the domestic market and can deliver revenue for governments, jobs for workers and long-term energy security for Australia.”
“The Northern Territory’s Beetaloo Basin has world-class resources, and responsibly developing these resources will provide stable, secure and affordable energy for Australia for decades to come,”McConville said.
Read the latest issue of Oilfield Technology in full for free: Oilfield Technology's November/December 2020 issue
The November/December issue of Oilfield Technology begins by reviewing the state of the North Sea before moving on to cover a range of topics, including Drilling Technologies, Deepwater Operations, Flow Control.
Contributors come from Varel Energy Solutions, Gyrodata, Clariant Oil Services, Drillmec and many more.
Read the article online at: https://www.oilfieldtechnology.com/exploration/18032021/aus50-million-in-grants-made-available-to-support-exploration-in-beetaloo-basin/
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