Budget Paper 1994-95 No.6 Northern Territory Economy
Tabled Paper 2156
Tabled Papers for 6th Assembly 1990 - 1994; Tabled Papers; ParliamentNT
Tabled by Barry Coulter
Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.
Mining Figure 8.4 $ million 1200 1000 Northern Territory Energy Production 1987/88 1988/89 1989/90 1990/91 1991/92 1992/93 1993/94* Source: Dept, o f Mines and Energy * NT Treasury estimate Oil production in 1992/93 was 3 322 megalitres worth $530 million, a 10% decline from the previous year. A BHP Co Ltd led consortium struck oil at Elang No. 1 in the Timor Sea during February 1994, the first successful find in the area. Initial tests produced 6 000 barrels per day, but production has been suspended pending the establishment o f required production levels. Production from the Alligator Rivers uranium province for the first six months o f 1993 was valued at $76.5 million, up 2.5% compared to $74.6 million during the same period 1992. The increase in value reflects an increase in production from 1 270 tonnes to 1 342 tonnes. Energy Outlook ABARE forecasts oil prices to rise by 3 to 4% in the short term and uranium prices to increase by 10% during 1994. Oil production in the Territory is export oriented with production forecast to remain stable in the short term. Known commercial reserves are 28.6 million cubic metres o f oil and 28.5 4 7
Aboriginal and Torres Strait Islander people are advised that this website may contain the names, voices and images of people who have died, as well as other culturally sensitive content. Please be aware that some collection items may use outdated phrases or words which reflect the attitude of the creator at the time, and are now considered offensive.
We use temporary cookies on this site to provide functionality.
You are welcome to provide further information or feedback about this item by emailing TerritoryStories@nt.gov.au