Aussie government to fund Central's Range gas project
Sydney-listed Central Petroleum on April 4 said its Range gas project in Queensland will receive grants from the Australian government.
The company said that it “welcomes the federal government identifying Project Range as a priority gas infrastructure project to receive a targeted grant in the federal budget as part of the National Gas Infrastructure Plan released last November.”
The grant is to be awarded to APA Group to accelerate the provision of gas infrastructure to support Project Range with a focus on pre-financial investment decision activities.
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"This provides some real energy for the Range gas project,” Central CEO Leon Devaney said. “Whilst the amount has not been made public at this time, the size of the grant will have a material impact on our efforts to progress a third-party infrastructure delivery model for gas plant and pipelines with APA.”
The Range Project is a coalbed methane project in permit ATP2031, located in Queensland's Surat basin. Central has a 50% interest in the project through its joint venture with Incitec Pivot. The company in February successfully drilled, cased and suspended the Range-9 well in preparation for completion. Range-9 is the second of two step-out pilot wells at Range gas project.