Central Petroleum acquires stake in Australia’s Mereenie field

Central Petroleum Ltd. has completed its acquisition of a 50% interest in the Mereenie oil and gas field in the Amadeus Basin of Australia's Northern Territory. Central has assumed operatorship of that field from Santos Ltd.

Mereenie is considered the largest conventional oil and gas structure discovered onshore Australia and, together with reserves at Palm Valley and Dingo, it allows 230 petajoules (PJ) of gas to be available to be marketed by Central for the Northern Territory Gas Interconnector (NEGI).

Richard Cottee, Central’s managing director, commented, “The acquisition of Mereenie completes Central’s transition to a predominantly domestic gas producer, allowing it to become an initial producer into NEGI.”

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