May 7, 2009

Renewal of Major Project Facilitation for MEO Australia

Renewal of Major Project Facilitation for MEO Australia

MEDIA RELEASE

The Hon Anthony Albanese MP

The Minister for Infrastructure, Transport,

Regional Development and Local Government

Leader of the House

Member for Grayndler

May 7 2009

I have renewed the Major Project Facilitation (MPF) status of MEO Australia, underscoring the Government’s effort to support major new private sector investment during the current global recession.

The company’s Timor Sea LNG and the Tassie Shoal Methanol projects involve developing gas accumulations in close proximity to Tassie Shoal, an area of shallow water in the Bonaparte Basin approximately 275 km North West of Darwin.

MEO is currently conducting further technical appraisals of its exploration lease adjoining Tassie Shoal, as well as approaching potential gas suppliers in the region in an effort to secure suitable feed gas for the projects. Depending on the quality and quantity of the available gas, the projects could proceed independently or as an integrated facility.

Each project is expected to generate approximately 500 jobs during construction and around 110 direct ongoing jobs.

MPF program is administered by my Department, with the purpose of facilitating and supporting private sector investment proposals through the approval processes of Federal and state/territory authorities. It also assists with the early identification of impediments to greater private sector investment.