Santos has today received federal approval to begin gas production from its Barossa offshore field in the Timor Sea, around 300km north-west of Darwin.
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00:00This approval from Australia's offshore oil and gas regulator
00:06marks the final regulatory hurdle for Santos before they can begin production in the Barossa field.
00:11The Santos spokesperson today said the Barossa project remains on track for a first gas by the third quarter of this year.
00:19The $5.6 billion project will extract natural gas from six subsea wells
00:24before it's piped to the Darwin LNG facility for processing.
00:28From there it will be exported to potential overseas buyers like South Korea and Japan.
00:34The approval follows years of legal challenges to the project in the Federal Court
00:38including a high profile failed legal bid by the Environmental Defender's Office
00:42on behalf of Tiwi Island's traditional owners.
00:45As well as being one of Australia's largest oil and gas investments in almost a decade,
00:50the Barossa field contains some of the most carbon intensive gas ever proposed to be extracted in the country.
00:56As a result, the project has faced intense opposition from green groups.
01:00However, the NT government is seeing this project as a potential massive boost to the Northern Territory's economy.
01:06It comes as gas and energy remain high on the agenda for Federal politicians this election campaign.
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01:14including the European Union.
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