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Current Grant Opportunity View - GO4630

Beetaloo Cooperative Drilling Program

Contact Details

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13 28 46

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GO ID:
GO4630
Agency:
Department of Industry, Science, Energy and Resources
Close Date & Time:
30-Jun-2022 5:00 pm (ACT Local Time)
Show close time for other time zones
Primary Category:
211003 - Energy Resources
Publish Date:
18-Mar-2021
Location:
NT
Selection Process:
Open Non-competitive

Description:

The Beetaloo Cooperative Drilling Program is a component of the Beetaloo Strategic Basin Plan delivered under the Australian Government’s broader Gas-fired recovery plan. The program aims to accelerate exploration efforts by the end of 2022.

The objectives of the program are to:

  • accelerate exploration and appraisal activities for prospective petroleum resources in the Beetaloo sub-basin
  • incentivise drilling in the Beetaloo sub-basin to deliver approximately 10 additional wells to build a comprehensive understanding of the resources. 

The intended longer-term outcomes of the program are:

  • accelerated development of the Beetaloo sub-basin as a potential world-class gas province and aid commercial investment decisions
  • maximising the downstream value of the gas industry for the Northern Territory and contributing to gas security across Australia in line with the broader gas strategy. 

The Australian Government has announced a total of $50 million over 2 years from 2021–22 to 2022–23 for the program. Allocation of the funding will be subject to demand.

The grant amount will be up to 25% of eligible project expenditure.

  • The minimum grant amount is $750,000.
  • The maximum grant amount is capped at $7.5 million per well. You can apply for up to 3 wells. 

You are responsible for the remaining eligible project expenditure plus any ineligible expenditure.

You can apply to this program until the available funding for this grant opportunity is fully subscribed, or by 30 June 2022, whichever occurs earlier.

You must submit an application per well and can submit a maximum of 3 applications. 

Eligibility:

We cannot waive the eligibility criteria under any circumstances.

Eligible entities

To be eligible, you must:

  • have an Australian business number (ABN)
  • be an entity incorporated in Australia
  • be a trading corporation.

Your trading activities must:

  • form a sufficiently significant proportion of the corporation’s overall activities as to merit it being described as a trading corporation; or
  • are a substantial and not merely peripheral activity of the corporation.

Eligible applications

We can only accept applications:

  • from corporations that hold a petroleum exploration permit or retention licence from the Northern Territory Government, and have commenced all necessary approval processes to undertake petroleum exploration onshore
  • where you can provide a letter from your board (or chief executive officer or equivalent if there is no board) that the proposed exploration and appraisal project:
    • is supported
    • can commence within three months of entering into a grant agreement
    • will be completed as per deadlines that may be set in your grant agreement
    • costs that are not covered by grant funding can be met
  • where you can provide evidence of how you will provide your share of project costs such as an accountant declaration that confirms you can fund your share of the project costs, including any ineligible expenditure.
Total Amount Available (AUD):

$50,000,000.00

Estimated Grant Value (AUD):

From $750,000.00 to $7,500,000.00

Instructions for Application Submission:

To apply, go to: www.business.gov.au/bcdp

Other Instructions:

business.gov.au provides information and advice to customers via a range of channels including phone (13 28 46), email and web chat. Contact us for assistance.

Addenda Available:

Contact Details

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13 28 46

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