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Minerva restart planned for 2021 - Cooper Energy

20th July 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Cooper Energy has committed A$55-million to support increased and new gas supply for south-east Australia with a decision to upgrade the Minerva gas plant in Victoria.

Cooper Energy in December of last year completed the acquisition of mining major BHP’s 90% interest in the Minerva joint venture (JV), along with partner Mitsui.

The Minerva gas plant is some 5 km from Port Campbell and has a processing capacity of 150 TJ/d, as well as hydrocarbon liquids processing facilities. The plant is connected directly to the SEAGas Port Campbell to Adelaide pipeline and to the South West pipeline, owned by the APA Group.

Since the acquisition, the front-end engineering design work to upgrade and connect the plant to process gas produced from the existing Casino, Henry and Netherby fields, which is held by the JV partners, has been completed.

The JV partners will now invest A$37-million to upgrade the plant, in addition to the A$17.8-million spent on purchasing the plant and on the front-end engineering design work, and on care and maintenance.

Cooper Energy on Monday said that the planned infrastructure work would enable the supply of 16 PJ of currently undeveloped gas.

“This investment decision represents an important milestone in Cooper Energy’s continuing growth as a safe, competitive, efficient and reliable developer and marketer of new gas supply for homes and businesses in south-east Australia,” said Cooper Energy MD David Maxwell.

“This is a shovel-ready project, which will see Cooper Energy and Mitsui upgrade the idle Minerva gas plant to be a processing hub for local production and discoveries offshore Otway basin.

“It means local jobs for local contractors, which will help deliver reliable gas supplies into the east coast market.”

The project is expected to create around 30 to 50 jobs during execution and 20 ongoing local jobs.

First gas is expected in the September quarter of 2021, barring further developments of the Covid-19 pandemic.

Federal Resources Minister Keith Pitt has welcomed the investment, saying it was particularly important given the current pandemic.

“I congratulate Cooper Energy on making this significant commitment to upgrade the Minerva plant near Port Campbell, Victoria that it jointly holds with the Mitsui Group,” Pitt said.

“Importantly, the investment will support more local jobs and new gas supply for Australia’s south-east. It’s an example of how the gas sector is continuing to deliver across Australia and while no sector has been immune to the impacts of the Covid-19 pandemic, the resources industry continued to be a major contributor to the national economy.

“The industry has gone to great lengths to keep workers and communities safe to remain operating through the current pandemic.

“The government strongly backs our mining and resources sector and the announcement from Cooper Energy today should give Australians confidence that the sector will lead the Australia to economic recovery.”

Edited by Creamer Media Reporter

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