Oz Cooper Inks New Gas Supply Deal with O-I
Sydney-listed Cooper Energy has signed a new gas supply agreement with O-I for the supply of 1 petajoules/year (943mn ft3/yr) of gas for two years starting January 1, 2021, it said February 10 in a statement.
The gas is to be supplied from the company’s equity share of production from its Casino Henry project, which Cooper operates with 50% interest while the balance is held by Mitsui E&P Australia and its associated entities. The agreement includes an option for an extension of a further three years.
The contract is Cooper Energy’s third gas sales agreement with O-I, an industrial gas user which is Australia’s largest manufacturer of glass container products. O-I committed to the inaugural gas supply agreement for the Sole Gas project in 2015 and previously contracted gas supply from Casino Henry for the 2019 calendar year.
“O-I were our first gas customer and we are delighted at the opportunity this contract has presented to deepen our commercial relationship. It is also the first agreement for supply in 2021 from our offshore Otway operations, where we are investing to build our gas business further,” Cooper managing director David Maxwell said.
Cooper, together with Mitsui, recently acquired the idle Minerva gas plant to establish a gas processing hub for their existing offshore Otway gas production and new discoveries such as Annie. The plant is expected to receive its first gas from Casino Henry in the first half of calendar 2021, Cooper said.