Cooper commits to Sole gas project in the Gippsland basin

Cooper Energy Ltd. has taken a positive final investment decision for the Sole gas project offshore southeast Australia, after securing a finance package.

Sole gas project offshore southeast Australia
Sole gas project offshore southeast Australia

Offshore staff

ADELAIDE, AustraliaCooper Energy Ltd. has taken a positive final investment decision (FID) for the Sole gas project offshore southeast Australia, after securing a finance package.

Managing Director David Maxwell said: “Today’s FID declaration is the culmination of five years’ effort under our gas strategy to identify, secure and develop gas resources best placed to supply southeast Australia with a new source of gas supply.

“We now have a fully funded gas project that is proceeding on schedule to deliver a new gas supply…in 2019.”

Around 75% of the Sole field’s gas has been contracted under long-term agreements with AGL Energy, EnergyAustralia, Alinta Energy, and O-I Australia.

APA Group will acquire, upgrade, and operate the onshore Orbost Gas Plant to process the gas.

Sole is in the VIC/L32 permit in the Gippsland basin offshore Victoria, 65 km (40 mi) from the Orbost Gas Plant.

08/29/2017

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