PERTH (miningweekly.com) – The Northern Territory government has released a new oil and gas development strategy aimed at guiding the industry’s future.

Chief Minister Adam Giles said on Wednesday that the strategy would set government on the right track to regulate this developing industry.

“The Territory government sees onshore gas exploration as providing significant economic benefits for Territorians, including potential employment, regional economic and infrastructure development, and for future royalties that will benefit all Territorians.”

“We want to engage with the oil and gas industry and the public both locally and nationally about the direction of the industry in the Northern Territory.

“The Northern Territory oil and gas industry has the potential to make a significant contribution to the Territory and Australian economies and will play an important role in providing energy security for our nation and strategic partners, particularly those in Asia.”

Giles said that it was a priority for the territory government to have information readily available to the public that was factual, based on science and relevant to the Northern Territory’s current onshore oil and gas activity.

“The government is strongly committed to ensuring the industry can be developed sustainably while still having appropriate protection of the environment and the Territory lifestyle.”

The Northern Territory government would grant a limited number of exploration permits every year to assist with gathering further baseline data about its oil and gas resource, and would also strengthen current legislation to ensure best-practice regulation for a growing industry.

The government intended to ask key decision-makers in the exploration, production, pipeline and service and supply industries about the direction of the Northern Territory’s oil and gas industry.

It would also seek feedback from the community on its oil and gas industry development strategy.

“There is a plan for oil and gas to play a big role in the medium- and long-term economic development of the Northern Territory, including on the service and supply side,” Giles said.

The Australian Petroleum Production & Exploration Association (Appea) said that it would take time to study the details of the government proposal.

“Appea is keen to work with the government and other stakeholders to ensure the Northern Territory’s environmental processes are efficient and transparent. The oil and gas industry has been operating safely and sustainably in the Northern Territory for more than 40 years with a strong record of environmental performance,” said Appea director for the Northern Territory Steven Gerhardy.

“The oil and gas industry has a proven track record of working compatibly with a wide range of landholders and land uses around Australia. Compared to many other land uses, gas projects require a very small surface footprint and are compatible and successfully coexist with other activities.

“By working together, coexistence can deliver significant benefits for traditional owners, landholders and local communities.”