Transerv Upgrades Warro Gas Field Resources
Transerv Energy has announced that an independent assessment has increased the size of its Warro onshore gas field in Western Australia (WA) by over two times.
The field is located about 200km north of Perth in RL’s 6 and 7.
“The new figures provided by RISC Advisory indicate a Contingent Resource Low estimate of 2.4Tcf of total gas initially in-place (GIIP) which is approx. double the amount previously assessed by Gaffney, Cline & Associates prior to the Alcoa farm-in work. This category is deemed to be the lowest-risk portion of the Resource and would be the basis of any project development,” Transerv said in a statement Wednesday.
The RISC assessment has increased the GIIP estimate to 11.6 trillion cubic feet (Tcf) on a 100 per cent basis, the company said, adding that this is an increase of over 15 percent to the upside GIIP figure of approx. 10 Tcf provided by the Shanley Review.
Transerv Managing Director Stephen Keenihan said the RISC results were outstanding in terms of both the overall increase in the size of the resource and the reliability of it.
“The size of the prize we are pursuing at Warro is now substantial by any measure,' Keenihan said. “It also demonstrates that Warro could be a highly valuable source of “offset gas” for the global LNG companies operating in WA. Under existing WA Government policy, these companies must reserve 15 per cent of the gas they control in WA for domestic use. However, by acquiring an interest in gas fields such as Warro, they can source this gas from elsewhere in WA to meet their 15 per cent obligation, meaning the fields which underpin their LNG projects can be used solely for LNG production.”
He added that there is huge potential for further increases in the Warro Resource because “we were still in gas when we stopped drilling the two latest wells.”
“Another 100m of gas column would translate into a further 0.7 to 4.1 Tcf of gas in place. This is significant because both the size and the reliability of the resource are central to the economic potential of the field,” he said.