The Finocchiaro CLP Government has welcomed the excellent flow rate results from Mereenie Joint Venture (JV) partners, including JV operator Central Petroleum, at the West Mereenie 29 (WM-29) well in the Amadeus Basin.
It marks a significant milestone in the development of the Territory's gas industry and our journey to energy security.
This achievement, which was announced yesterday on the ASX, highlights the critical role the energy sector plays in the Territory's economy, providing vital energy to support business and industrial growth, while providing energy autonomy and security for the Territory and the nation.
Chief Minister and Acting Minister for Mining and Energy Lia Finocchiaro said: "Our government has promised to rebuild the Territory economy, after eight long years of economic stagnation, mismanagement, and decline under the previous Government."
"The energy sector is crucial to our fulfilling this promise and forms the lifeblood of Territory businesses and heavy industry, with gas and associated royalties flowing from the Amadeus Basin in Central Australia and soon to flow from the Beetaloo Sub-basin, which we are unlocking after years of ideological inertia by Labor."
"Our Government is determined to realise the full potential of our gas industry and deliver economic prosperity and energy security for Territorians."
The flow rate from the WM-29 well is double pre-drill expectations, with production reaching 6 terajoules of gas per day (Tj/d).
Gas sales to the NT have already commenced, delivering much-needed energy to fuel the growth of our economy and population.
"The Mereenie gas field, which has been providing energy to Territorians for over 30 years, has now reached a new milestone in its history, and we are excited to see the upcoming completion and flow results of the West Mereenie 30 (WM-30) well, which are expected in the coming months," said Mrs Finocchiaro.
"This is a significant step in ensuring that the Territory's energy needs are met while driving economic growth and creating jobs for the future."
"I look forward to the continued development of the Mereenie gas field and wish Central Petroleum and their JV partners ongoing success as they contribute to the energy needs of the Territory and the broader Australian market."
