The Territory Labor Government has welcomed a milestone announcement today 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.   

Quotes from Chief Minister, Michael Gunner:

“Today’s announcement shows a strong confidence in investing in the Territory, and in Territory jobs.

“Territorians working on this project will have job security for the next two decades, while hundreds of new positions will also open up along the way.  

“The Territory Labor Government is delivering to make the Territory a world-class hub for gas production and manufacturing services, which is cementing our position as Australia’s comeback capital.”

Quotes from Minister for Mining and Industry, Nicole Mansion:

“We remain focused on creating jobs, and making the Territory the very best place to do business.

“Private investment is so important for our comeback from the coronavirus crisis, and we will continue to support this sector, which creates  opportunities and jobs for Territorians.”

Quotes from Santos Managing Director and CEO, Kevin Gallagher:

“As the economy re-emerges from the COVID-19 lockdowns, these job-creating and sustaining projects are critical for Australia, also unlocking new business opportunities and export income for the nation.

“The Barossa and Darwin life extension projects are good for the economy and good for local jobs and business opportunities in the Northern Territory.”