The Territory Government has welcomed a milestone announcement by Santos, which has reached a final investment decision (FID) on its offshore gas Barossa Project.
The FID confirms Santos’ financial commitment to the $5 billion Barossa Gas Project, which will be located 300kms north of Darwin.
It is the largest private economic investment announcement in the Territory since Inpex’s Ichthys gas project.
Barossa FID paves the way for an additional $800 million dollar investment decision on Darwin LNG life extension.
This will ensure hundreds of jobs continue to flow in the Territory for the next two decades, with 600 new positions created during construction.
350 permanent positions in Darwin will also be secured for the next 20 years, with an estimated $2.5 billion worth of wages and contracts expected to flow for Territorians.
It’s a welcome commitment to Santos operators living in the Territory, with the opportunity for current and future staff to live and work in the Top End, rather than through fly in and out positions.
The project will have positive flow-on benefits for the Territory for years to come, not only in the gas and construction sector, but more broadly for the economy.
Source: NT Government