Cooper Energy Opens Gippsland Basin Gas Hub Data Room

Cooper Energy has opened the Gippsland Basin Gas Hub data room, the company said Thursday.

The data room, which includes the Sole Gas Project and Orbost Gas Plant and the Manta Gas Project, has been opened to facilitate optimal project funding and commercial alignment of interests through the involvement of other parties, the company stated.

The Gippsland Basin Gas Hub offshore Victoria comprises the Orbost Gas Plant and the offshore permits VIC/RL3 (which contains the Sole gas field) and VIC/L26 - L28 (which contains the Manta gas field and liquids resource. Collectively this portfolio offers gross Contingent Resources (2C) of 347 PJ of gas (Cooper Energy share: 189 PJ) and an existing processing plant connected to the Eastern Gas Pipeline.  

Cooper Energy currently holds equity levels of 50 percent in Sole and the Orbost Gas Plant and 65 percent in Manta.

Sole is currently the subject of Front End Engineering and Design (FEED) for a Final Investment Decision (FID) in the September quarter 2016. The FEED is progressing ahead of schedule and within budget.  Cooper Energy has secured its first Heads of Agreement for sale of gas from Sole and is well advanced in negotiations for additional sales agreements. Santos has a 50 percent interest in VIC/RL3 and the Orbost Gas Plant.

The Manta Gas Project has been identified as a viable business opportunity and evaluation of the commercialisation options is currently underway, including discussion with customers. The current schedule is for Manta to enter FEED in the March quarter of 2017 for a FID in the March quarter 2019 and production from the June quarter of 2021. Beach Energy has a 35 percent interest in VIC/L26 - L28.