Northern Territory selects Inpex in bid for onshore exploration

Australia’s Northern Territory government has selected Inpex Corp. for onshore oil and gas exploration in the Beetaloo basin, southeast of Darwin.

OGJ editors

Feb. 16, 2015

2 min read

Australia’s Northern Territory government has selected Inpex Corp. for onshore oil and gas exploration in the Beetaloo basin, southeast of Darwin.

Inpex’s bid for exploration permit 14-1 covers more than 4,000 sq km containing 50 blocks.

The grant is dependent on successful completion of the next phase of the application process, which includes advertising for objections, registration and completion of all legislative requirements, and negotiations to reach agreement with native title holders.

Inpex said the process could take up to 2 years.

“This is a successful first step in which Inpex was assessed on work programs, expertise, and financial capacity,” said Tony Pytte, Inpex director of Australia ventures.

“While Inpex’s primary focus remains the delivery of the flagship Ichthys LNG Project, this announcement opens the door to possible greater Inpex investment in the Northern Territory,” Pytte said (OGJ Online, July 8, 2014).

The company tendered for the right to pursue exploration following the government’s release of acreage in June and July 2014.

The acreage became available as a direct result of the government’s “use-it or lose-it” policy, which is aimed at stimulating exploration, said Adam Giles, chief minister of the Northern Territory.

Giles said it is the first petroleum exploration acreage release in the territory under the government’s new competitive tender process.