Australia grants facilitation status to BassGas development
Sept. 11, 2001
Australia has granted the BassGas development project off Victoria state major projects facilitation status. The two lead interest holders in the project are AWE Petroleum Ltd. and Origin Energy Resources Ltd.
HOUSTON, Sept. 11 -- Australia has granted the BassGas development project off Victoria state major projects facilitation status.
The two lead interest holders in the field are AWE Petroleum Ltd. and Origin Energy Resources Ltd.
The $400 million project will develop Yolla field in the Bass basin and bring the gas back on shore for use in the Victorian grid and for possible power generation in South Australia. The project would produce about 13.5 million bbl of condensate and 1,000 kilotonnes of LPG during 15 years (OGJ Online, Mar. 23, 2001).
The status change means that the federal investment agency will assist the project by coordinating the various necessary federal approvals processes. Invest Australia will also work closely with the state governments involved.
The proponents of the BassGas project hope to supply commercial gas in the first quarter of 2004.
