Name of the Project
Sole gasfield project.
Location
The project is located in VIC/L32 in the Gippsland basin, off the shore of Victoria, in Australia.
Client
Cooper Energy.
Project Description
The project will develop the Sole gasfield to supply 25 PJ/y to gas users in south-east Australia.
Gas produced from the field will be piped to the Orbost gas plant (formerly known as the Patricia Baleen gas plant), from where the gas will be supplied to customers through the Eastern gas pipeline.
Based on current ownership levels, the first full year of operation from the Sole gas project is expected to lift Cooper Energy’s yearly production to more than six-million barrels of oil equivalent, compared with guidance for 2017 of one-million barrels of oil equivalent.
Jobs to Be Created
Not stated.
Net Present Value/Internal Rate of Return
Not stated.
Value
The project is estimated at $355-million.
Duration
First gas is planned to be delivered to the Orbost gas plant in the March quarter of 2019.
Latest Developments
Cooper Energy approved the Sole gas project to proceed in March this year.
Financing for the project has started, with a fully underwritten equity raising of $151-million.
The company is confident of securing debt finance for the remaining funding requirement of the Sole gas project during the June quarter.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Cooper Energy, tel +61 8 8100 4900, fax +61 8 8100 4997 or email customerservice@cooperenergy.com.au.