Independent oil and gas company Parkmead has announced first production from Diever West gasfield in the Netherlands.

Northern Territory issues oil guidelines

Australia

DARWIN, November 18, 2015 – Australia’s Northern Territory Chief Minister Adam Giles said Wednesday that the government will introduce guidelines to address community concerns about oil and gas exploration and production activity in the region. The guidelines are designed to clear hurdles on the way to hydrocarbons development in the state.

The territory’s untapped 5.66 tcm (200 tcf) of unconventional and 850 bcm (30 tcf) of conventional gas reserves could benefit the country’s tight oil and gas industry and looming energy supply crisis if exploration efforts remain obstructed by communities in the area.

Minister Giles recently announced the launch of the Northeast Gateway pipeline project, which will link the region to the country’s grid and increase export traffic when completed in 2019. Production output remains crucial in maximising revenues from the pipeline.

The guidelines address the impacts of exploration and production activities and waste handling and are aimed at ensuring communities that hydrocarbons development will be beneficial for the region, with future output creating a $961-million increase in government revenues between 2020 and 2040, as well as 6,300 full-time positions.

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