Falcon Oil & Gas has announced that an historic agreement has been reached between Falcon Oil & Gas Australia’s joint venture partners’ Tamboran (B2) (collectively the 'Beetaloo JV partners') parent company, Tamboran Resources Corporation, with Native Title Holders and the Northern Land Council for the sale of appraisal gas from their Exploration Permits (EP) in the Beetaloo sub-basin.
Points to note:
- The Agreement provides Native Title Holders’ consent to the Beetaloo JV partners to the sale of appraisal gas from EP98 and EP117 of up to 60 TJ per day from the proposed Shenandoah South Pilot Project over a three-year period, subject to the Agreement’s terms. The Beetaloo JV partners will now focus on securing necessary approvals to support longer-term production.
- The Beetaloo JV partners have contracted an initial 40 million cubic feet per day (“MMcf/d”) to supply the Northern Territory Government until mid-2041, which is expected to provide energy security for the Northern Territory.
- Commencement of gas sales to the Northern Territory Government via the Sturt Plateau Compression Facility is expected in mid-2026, subject to weather conditions and final stakeholder approvals.
- The Beetaloo JV partners maintain strong working relationships with the Native Title Holders across EP98 and EP117. They plan to continue delivering financial benefits, training, employment and contracting opportunities to the Native Title Holders and the local community.
- The Agreement ensures that the development of the Beetaloo sub-basin is a genuine partnership that represents significant and long-term economic and social benefits to all parties.
- The Agreement is subject to approval by the Northern Territory Minister for Mining and Energy.
Philip O’Quigley, CEO of Falcon commented:
'This is a significant development for our operator Tamboran B2, being the first operator in the Beetaloo Basin to secure Native Title Holder approval to sell gas under the legislated appraisal framework. We would like to join Tamboran Resources Corporation in thanking the Native Title Holders and the Northern Land Council for their support in reaching a positive outcome with this significant agreement and for their vision and support.'
Original announcement link
Source: Falcon Oil & Gas
