Cooper Energy Ltd. will deliver gas sales of 4 MMboe/year, which is four times the company’s 2017 production, on the heels of taking a financial investment decision for its Sole natural gas field development in eastern Bass Strait offshore Victoria in southeastern Australia. Cooper’s managing director David Maxwell cited the FID as a “culmination of 5 years’ effort” to provide the country with a new source of gas supply.
The company fully funded the gas development with its $98 million investment. New gas is expected to be delivered in 2019. The classification of Sole field as economic has boosted the operators proved and probable (2P) reserves by 43 MMboe, and it said about 75% of the field’s gas is under longterm contracts with AGL Energy, EnergyAustralia, Alinta Energy, a O-I Australia. APA Group will acquire, upgrade, and operate the Orbost gas plant to process gas from Sole. In March, Cooper let a contract for the fabrication and installation of the subsea infrastructure to Subsea 7 (OGJ Online, Mar. 1, 2017).
Cooper Energy’s total 2P reserves are now 54 MMboe of which 52 MMboe are gas.
Contact Tayvis Dunnahoe at [email protected].
