Onslow Marine Support Base
Investment Decision September 2017
Marine supply base facility, including wharf, training wall upgrade and inner / harbour channel expansion (capital construction of channel and turning basin).
Unlocked economic potential of the whole project by overcoming current depth limitations on the range of vessel serviceability.
All vessels supporting the operations of the offshore oil and gas industry in the region will now be able to access the new base, providing great efficiencies.
NAIF financing was integral to immediate delivery of the full project scope (accelerated by 3-5 years).
NAIF used its risk appetite to complement private lender National Australia Bank.
Public waterway works financed by NAIF (without requiring security which was not available given non-exclusive use of channel).
Proponent will engage with Indigenous communities to explore partnership opportunities with other businesses.
Project will have active engagement with Indigenous suppliers, contractors and businesses that employ local Indigenous workers.
Contractor must report on a 6 monthly basis on engagement activities and the number of hours of Indigenous people employed.
Proponents are required to regularly report on IES performance to NAIF – typically every six months during the construction phase and annually in the operational phase, for the length of their loan.
Communications on IES outcomes are available here:
Indigenous Engagement Strategy public summaries provide a short version of the IES and are available here:
Economic Impact and Public Benefit
- Multi-user facility provides chandlering, heavy lift capabilities, reverse logistics, refuelling, transport, freight and emergency services to support onshore and offshore industries in middle and southern Carnarvon Basin.
- Forecast $100m benefit over 10 year period for State and 45% increase in local gross regional product (over 2011 census). Flow-on economic benefits to the wider Onslow and Ashburton community.
- Employment estimated at 61 jobs during construction and 166 during operations.
- Provides both significant productivity, time and fuel savings, lowering costs for local operators and less risk in operations.
- Will see the capture of services that might otherwise go overseas.
NAIF’s media release regarding Onslow can be found here: https://naif.gov.au/media-releases/western-australia-signs-for-onslow-investment/
A Case Study factsheet on Onslow can be viewed here: Onslow factsheet
Andrew Natta, Director, OMSB: ““The NAIF has been instrumental in allowing the OMSB project to progress far quicker and unlock the strategic location of Onslow, which will provide efficiencies that will promote jobs and further opportunities to the state of Western Australia.”