Cooper Energy Signs Gas Supply Agreement with AGL Energy

Cooper Energy has announced its second gas supply agreement for the Sole gas field and its first commercial agreement for the nearby Manta field.

The company has inked a binding heads of agreement with AGL Energy. The agreement, which is subject to an affirmative FID provides for the supply of up to 53 PJ from Sole over 8 years, together with options for a two year extension and for supply of up to 4 PJ per annum from Manta, Cooper Energy said in a statement Wednesday.

Sole is currently the subject of FEED for a FID around the September quarter 2016.  Cooper Energy and Santos Limited each hold a 50 percent interest in Sole and the Orbost gas plant which is planned to be used to process gas produced from Sole.  

Current schedules anticipate first gas from the Sole gas project in the January quarter of 2019. 

Cooper Energy now has a total of 73 PJ of its Sole gas subject to sales or extension agreements, which is 60 percent of the company’s 2C contingent gas resources1 of 121 PJ in the field.

The Sole gas field is located in VIC/RL3, offshore Victoria, Australia. Cooper Energy is operator and 65 percent interest holder in the Manta gas project which lies within VIC/L26 and L/27 offshore Victoria.