PERTH (miningweekly.com) – ASX-listed Energy World Corporation (EWC) has been granted A$2-million in government funding under the Gas Acceleration Programme to accelerate the recommissioning of the Eromanga and Gilmore gasfields, in Queensland.
The fields are fully owned by EWC and were placed on care and maintenance in 2001. They have a total of 31-billion cubic feet of resource and substantial upside potential EWC said on Friday.
Each of the processing facilities have a throughput capacity of 12 TJ a day, for a total capacity of 24 TJ a day when fully operational, and both facilities are connected to existing gas production wells, as well as the broader Queensland gas pipeline infrastructure.
“The East Coast gas supply shortfall issue and the resultant significant increase in gas prices has created an excellent opportunity for recommissioning of our gasfields,” said EWC executive director Brian Allen.
“We are grateful for the funding provided by the Australian government, which will cover a part of our expected costs, and are now moving forward to re-establish vehicle access to the wells, pipelines and processing plant at Eromanga.”
Under the terms of the funding A$500 000 will be provided up-front, followed by reimbursement of 50% of the amount spent by EWC, after the first A$1-million of expenditure, subject to certain milestones.