Inpex granted approval to pursue NT exploration permit

Inpex has been granted approval by the Northern Territory Government to pursue an exploration permit for Onshore Petroleum Exploration Acreage.

Access to this acreage, which is situated in the highly prospective Beetaloo Basin (approximately 500 km South East of Darwin), would provide Inpex with additional potential oil and gas resources for development.

Inpex Director Australia Ventures, Tony Pytte, said: “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 (NT).”

Inpex tendered for the right to pursue exploration following the NT Government’s release of acreage in June and July 2014.

Inpex now expects a highly detailed and closely monitored process of Native Title negotiation, overseen by the Department of Mines and Energy. The process, which is required for any future offer of an exploration permit, will also involve consultation with pastoral land lease holders and could take up to two years.

Mr Pytte added: “As a global oil and gas exploration and production company we actively pursue new opportunities to fulfil our growth aspirations. We will work hard to see this NT opportunity succeed.”

Adapted from press release by Callum O'Reilly

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/13022015/inpex-granted-approval-to-pursue-nt-exploration-permit-246/