BMG enters new phase

The Basker-Manta-Gummy Joint Venture project offshore southern Australia will be easing into a new development phase.

Offshore staff

SYDNEY, New South Wales – The Basker-Manta-Gummy Joint Venture project offshore southern Australia will be easing into a new development phase. Operator Roc Oil (VIC) Pty Ltd. says preparations are under way to go into a Non-Production Phase to evaluate options for a Phase II gas development.

The joint venture group will work to quantify BMG’s gas and liquids reserves, particularly in the deeper Golden Beach formation. The group consists of Roc with 30%, Beach Energy Ltd. with 30%, CIECO Exploration and Production (Australia) Pty Ltd at 20%, and Sojitz Energy Australia Pty Ltd. and Pertamina Hulu Energi Australia Pty Ltd. with 10% each.

Production into the Crystal Ocean FPSO and transportation by the Basker Spirit shuttle tanker will be suspended. The subsea equipment and other facilities are to be secured for use in any Phase II gas work.

11/09/2010

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