Cooper Energy plans future at Otway hub
PERTH (miningweekly.com) – ASX-listed Cooper Energy on Wednesday revealed growth aspirations for its offshore Otway gas hub, with new gas targeted for 2025.
Cooper Energy told shareholders that completion of the upgrade to the Athena gas plant and the cutover from the Iona gas plant to the Athena gas plant in December 2021 had secured Otway gas processing infrastructure with available capacity and direct access to south-east Australia gas customers.
The company was now planning to develop and deliver new supply through the Athena gas plant in a series of development steps. This would start with the Otway Phase-3 Development (OP3D) project, expected to enter detailed front end engineering design (FEED) in the first quarter of 2023.
A final investment decision (FID) on OP3D is targeted for the third quarter of next year, with first gas before winter 2025, and is subject to joint venture approval, Cooper Energy said.
OP3D will be based around the development of the Annie gasfield, together with low-risk short cycle time exploration drilling. This will optimise capital management and maximise economic return. The further development of Henry will be considered for inclusion in a future phase.
The Annie field alone is expected to more than double current production rates through the Athena gas plant and provide approximately five years of foundation life extension to the existing production assets. The Annie development is expected to include flexibility to allow tieback of successful low risk, high deliverability prospects, the company said.
The assessment of the Annie 2C contingent resource estimate has been upgraded to 63.5 PJ2, and the 2C contingent resource will be booked as 2P reserves when an FID is made.
Cooper Energy said on Wednesday that the impact on the company’s reserves and contingent resources from the delay in the further development of the Henry gasfield beyond OP3D, would be determined as part of the yearly review currently underway.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation