Username :
Password :
Latest Tracker Updates
25 May 2015: Sole Gas Project enters into FEED Phase

25 May 2015

Cooper Energy reports that the acquisition of a 50% interest in the Sole gas field and Orbost Gas Plant announced on 15 December 2014 has been completed with the project enteringFront End Engineering and Design (FEED) phase. The completion of the acquisition has resulted in CooperEnergy booking 2C Contingent Resources of 106PJ of sales gas.

The VIC/RL3 joint venture, which comprises Cooper Energy and Santos Limited, will now work to completion of FEED for a Final Investment Decision (FID) in the third quarter of 2016.

Cooper Energy Managing Director David Maxwell said that the commencement of FEED was a significant milestone for the project and the company.

“Together with Santos we are now working on completing the detailed analysis, design and costing necessary for the decision on developing the Sole gas field” he said. Mr Maxwell noted that thecompany’s confidence in the project had been reinforced by market conditions. “The current outlookis very encouraging, with gas prices and field development costs trending favourably for economic development of Sole.”

“We believe that Sole, as a conventional gas field, nearby existing infrastructure, is a competitive andattractive source of gas for eastern Australia. We are working with customers to develop the gassales agreements that will deliver the best value outcomes for our shareholders and customers” hesaid.

Gas market offtake contracts and finance for project construction will be developed in parallel with the FEED in readiness for a likely FID in the third quarter of 2016.

Cooper Energy has assessed the Sole gas field to contain a Contingent Resource (2C) of 211 PJ ofsales gas (100% joint venture). Whilst project development and costing will be determined by theFEED process, the field is expected to provide gas supply of approximately 25 PJ per annum over 8years after commissioning in late 2018. Gas produced from Sole will be transported by pipeline tothe Orbost Gas Plant onshore Victoria, from where it can be distributed to eastern Australian gascustomers via the Eastern Gas Pipeline.

The FEED phase is budgeted to cost approximately $27 million, which Cooper Energy will fund100% as part of its commitment to pay the first $50 million of project costs. Cooper Energy’s costs through to FID stage are fully funded.

Cooper Energy

22 May 2015: Neste Jacobs to Engineer Rail Loading Facility at Turkmenbashi Refinery


Sarwarzad Energy Ltd - experts at tracking projects.

Contact us for below services:

[Research] [Advisory] [Consultancy] [Training]