Vintage signs Vali tie-in agreement
Sydney-listed Vintage Energy has executed a tie-in agreement with the South Australian Cooper Basin (SACB) joint venture, it said on May 4. The agreement provides for the connection of the Vali gas flowline, and ongoing receipt of Vali gas, into the SACB pipeline network.
Execution of the tie-in agreement marks the completion of all commercial agreements required for gas produced from the Vali gas field to flow to Moomba, to be processed and supplied for sale to AGL under the gas sales agreement announced in March. The AGL agreement became unconditional in April following the execution of a Vali field gas processing services term sheet with SACB JV.
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The Vintage-led joint venture has contracted to supply between 9 and 16 petajoules of gas to AGL over a period of approximately four and a half years. The contract represents between 9% and 16% of the field's announced proved and probable reserves.
Production from the Vali gas field, discovered in 2020, is expected to commence following the completion of the field's three wells and connection to the nearby Moomba gas gathering network.
Vintage operates the Queensland permit ATP 2021 containing the Vali gas field with a 50% interest. Metgasco and Bridgeport each hold 25% interest.