Yolla gas-condensate field in the Bass basin 100 km off the north coast of Tasmania is finally on course for development, according to its two lead interest holders, AWE Petroleum Ltd. and Origin Energy Resources Ltd. Estimated cost of the Yolla development project is $400 million (Aus.).
The field has proven gas reserves of 280 bcf, which would supply the Tasmanian market for an estimated 20 years. It also would have a high yield of NGL and condensate, with expected annual production as high as 40,000 tonnes and 600,000 bbl, respectively.
The development would be viable with sales of 14 bcf/year, say the partners. The Yolla consortium is seeking customers to sign gas sales contracts.
Yolla has considerable potential for additional reserves, say the partners. Only two wells have been drilled on the structure so far, and there are a number of undrilled prospects on the surrounding acreage.
Development plans include an offshore production platform; a multiphase pipeline to shore, with landfall at either Burnie or Bell Bay, near a Comalco Ltd. aluminum smelter; and a gas processing plant.
