Cooper, Santos to progress Sole gas studies in Gippsland basin

Offshore staff

ADELAIDE, Australia – Cooper Energy has agreed to acquire a 50% interest from Santos in the VIC/RL3 permit offshore southeast Australia and the associated onshore Orbost gas plant.

Completion of the $27.5-million transaction is subject to regulatory approval and finalization/approval of pre-front-end engineering and design (FEED).

VIC/RL3 contains the undeveloped Sole gas field, 65 km (40.4 mi) from Orbost which is connected to the Victorian and New South Wales gas markets via the Eastern Gas pipeline.

Current pre-FEED work for Sole is due to finish in April, with full FEED likely to be completed during the first half of 2016, followed soon afterward by a final investment decision. The partners plan a development to supply gas to eastern Australia from late 2018/early 2019.

Close to Sole, work continues on a business case for development of the Basker Manta Gummy (BMG) fields’ gas and liquids resource in the VIC/L26-28 offshore concession.

This work, which includes interpretation and depth conversion of reprocessed 3D seismic over the fields, is designed to identify the optimum development plan, and is expected to be completed in June, Cooper says. There could be a need for appraisal drilling in 2016.

01/22/2015

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...