Territory Stories

Budget Paper No.6 1997/98 Northern Territory Economy

Details:

Title

Budget Paper No.6 1997/98 Northern Territory Economy

Other title

Tabled Paper 3223

Collection

Tabled Papers for 7th Assembly 1994 - 1997; Tabled papers; ParliamentNT

Date

1997-04-30

Notes

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.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Series/C1968A00063

Parent handle

https://hdl.handle.net/10070/289257

Citation address

https://hdl.handle.net/10070/404114

Page content

Energy The Northern Territorys known energy resources include crude oil, natural gas and uranium. Uranium oxide is produced in the East Alligator Region, near the township of Jabiru, at the Ranger mine. Crude oil is produced from both on and off shore sites; most of the crude oil produced on shore at Mereenie is refined in South Australia, while oil from the off shore fields of Jabiru and Challis is exported overseas. Natural gas is produced in the Amadeus Basin near Alice Springs; the two natural gas fields are Palm Valley and Mereenie. Expenditure on petroleum exploration in the Northern Territory and in off shore waters administered by the Territory increased by 72% to $96.3 million in 1995-96. In addition, exploration expenditure in Area A of the Zone of Cooperation with Indonesia (ZOC-A) remained steady at $89.2 million. The value of energy production in the Territory is expected to be approximately $413 million in 1996-97. The decline in crude oil production from the early 1990s due to the depletion of reserves in off shore oil fields has been the major factor in the energy sectors reduced value of production. Skua field ceased production in early 1997, and the estimated reserves of 22 million barrels at Jabiru and Challis are expected to be depleted within five years. On shore production 0 200 400 600 800 1 000 1 200 1 400 1 600 1 800 91-92 92-93 93-94 94-95 95-96 96-97* 97-98# 98-99# 99-00# 00-01# Energy Production Gas Uranium Oil $ million Source: Dept. of Mines and Energy * DME estimate, # DME forecast Figure 8.4 Mining 46


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