Central Resumes Queensland Project
Sydney-listed Central Petroleum has resumed work at the Range gas project in Queensland’s Surat basin, it said on November 3 in a statement. Central is developing the project through a joint venture with Incitec Pivot.
The Range joint venture will resume the activities needed to reach a final investment decision (FID), including a three-well appraisal pilot programme due to be drilled in H1 2021. It will also seek approvals and permits for project development, Central said.
Range is targeting an FID at the end of 2021, subject to successful pre-FID activities. Development is anticipated to start immediately after the decision is taken, potentially allowing for first gas production in 2023 to provide additional supply for the east coast gas markets, it said.
“The new gas sale agreement and restructured finance facility announced last week, combined with continued resilience in term gas markets, give us the flexibility and confidence to restart Range,” CEO Leon Devaney said. “This is a major area of growth for Central which we believe will be a very competitive new source of gas for the east coast market when the project comes on stream in 2023.”
The 77km2 Range gas project could comprise up to 143 producing wells over the field's life, with gas processed on site and transported to market via either a new pipeline connecting to the Roma Brisbane gas pipeline or a tie-in to other nearby pipeline infrastructure.