Vintage completes 1st phase of Vali gas project

Sydney-listed Vintage Energy has completed the first, and started the second, of four operational phases to bring the Vali gas field in ATP 2021 in Queensland into production, it said on July 11.

Operations to enable production from Vali comprise four phases: a fracture stimulation campaign; well completion; pipeline and facilities construction and commissioning. The company is the 50% interest holder and operator of the ATP 2021 joint venture. Other partners are Metgasco and Bridgeport with 25% interest each.

The Vali gas field fracture stimulation campaign was completed in June. The well-completion campaign started with the arrival of the Savanna Rig 68. In addition, Vintage, on behalf of the joint venture has executed a master services agreement with Global Engineering and Construction for pipeline installation and facilities construction and has received the final A$5mn tranche prepayment from AGL.

Vintage and the ATP 2021 joint venture are bringing the Vali gas field into production to provide a new source of gas for eastern Australia. Vali will supply AGL under a gas sales agreement announced in March this year for the supply of an estimated 9 petajoules to 16 petajoules in the period to end-2026. Gas committed under the GSA, the first supply agreement for the company, represents 9% to 16% of the field's proved and probable reserves. Gas produced from the field is to be transported to Moomba for processing prior to sale.