Vintage Energy starts Odin gas field in Australia

Sydney-listed Vintage Energy has started gas supply from the Odin gas field located in the South Australian Cooper Basin, it announced on September 14.

The gas supply from the Odin field has already been contracted to Pelican Point Power, a joint venture between Engie and Mitsui & Co. The supply contract is set to be in effect from the start-up of Odin until December 2024. 

The Odin project is located in PRL 211. Metgasco and Vintage Energy, which is the operator of the project, own 25% and 50% stakes, respectively, while Bridgeport holds the remaining 25%. The Odin gas field was discovered by the joint venture in 2021. The field has independently certified contingent resources of 40 petajoules.

As producers supplying less than 100 petajoules exclusively to the domestic market, Vintage and the joint venture are exempted from the gas price cap.

Vintage managing director, Neil Gibbins, said "Odin is expected to be a valuable complement to our existing production from Vali, with differences in producing zones, completion and contract. We expect Odin will deliver a substantial uplift to our gas production and sales revenue.”

Odin is the second new gas field brought into supply by Vintage and the joint venture, following the connection of the Vali gas field in Queensland in February 2023. Gas from Vali and Odin is processed at the Moomba processing facility. Both fields have matching joint venture ownership.

The Odin gas field has a single completed gas well, Odin-1, which flowed gas at a stable flow rate of 6.5mn ft3/day from the Epsilon and Toolachee formations.