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APA GROUP

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Cooper Energy - Operations update

01/13/2022 | 11:06am EDT

Plant and Sole gas field The average processing rate at the Orbost Gas Processing Plant (OGPP), owned and operated by APA Group (ASX: APA), was 44.3 TJ/day in December, 5% higher than the prior month (42 TJ/day). The higher average processing rate in December reflects improvements due to continued optimisation of process parameters of the gas plant. Operational improvements continued into January with a stable processing rate of 50TJ/d to 12 January. Recently the two sulphur absorbers have operated on a planned 21-day cleaning cycle. The ongoing optimisation and monitoring may result in an extension to this cleaning cycle.

Sole gas sales

volume High demand has continued with sales into the Sole Gas Sales Agreements (GSAs) at maximum daily quantities. The average gas sales volume in December was 58 TJ/day, with OGPP processing shortfalls met through Cooper Energy's back-up gas supply arrangements and Otway Basin production. All daily nominations from Sole customers continue to be met.

Athena Gas Plant Project

The Athena Gas Plant Project has achieved a critical milestone, with first gas from the Casino, Henry and Netherby (CHN) fields introduced to the plant on 10 December. This followed successful cutover of the pipeline from the Iona Gas Plant to Athena, which was completed on schedule. First gas sales to customers commenced on 15 December. Gas processing averaged 6.5TJ/d in December, net to Cooper Energy, compared to 5TJ/d in November, noting that production in November was impacted due to the cessation of production and processing at the Iona Gas Plant from 13 November. Ramp-up of gas processing at Athena has occurred through early January and processing rates of 28TJ/d from the CHN fields has been achieved. Work on optimisation of the processing rates is ongoing. 'The commencement of processing our offshore Otway Basin gas through Athena in December is a major achievement for Cooper Energy. It further demonstrates the company's project delivery and gas operations capabilities,' Cooper Energy Managing Director, David Maxwell, said.

Recommissioning activities undertaken by Cooper Energy as part of the Athena Gas Plant Project included: Replacement of three gas turbines; More than 130 vessel inspections; Replacement of the fire water tank and heat shield; Upgrades to the control system; Modification of the compression run to improve low pressure delivery capacity; Redirection of the onshore pipeline from the Iona Gas Plant to Athena; Receipt of a Major Hazard Facility licence plus numerous regulatory and landholder approvals; Recruitment of 14 permanent operations staff and various contractors for project delivery; and Implementation of competency and training programs

Dombey 3D seismic survey

The Dombey 3D seismic survey in PEL 494 in the onshore Otway Basin commenced on 16 December and will be conducted over a six to ten week period. The area to be surveyed is located approximately 15 kilometres west of Penola and covers 165 square kilometres. PEL 494 joint venture partner and operator, Beach Energy, has undertaken environmental evaluations of the survey area to ensure that all regulatory environmental objectives are met. The survey has been designed as a low footprint, low impact project with the aim of identifying potential natural gas reservoirs.

Cooper Energy Limited (ASX: COE) is an exploration and production company which generates revenue from gas supply to south-east Australia and low-cost Cooper Basin oil production. The company is an emerging player in the south-east Australian energy sector holding a portfolio of gas supply contracts and one of the most extensive portfolios of gas-focused acreage and assets, including well located reserves and resources in the Otway and Gippsland basins. These include the Sole gas field in the Gippsland Basin which recently became the first new offshore gas development in south-east Australia to commence production in several years, the Casino Henry operations in the offshore Otway Basin and undeveloped resources such as Manta and Annie.

Contact:

David Maxwell

Managing Director

T: +61 8 8100 4900

Eddy Glavas

General Manager Commercial and Development

T: +61 8 8100 4900

Bindi Gove

Head of External Affairs

T: +61 406 644 913

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
APA GROUP 0.79% 11.52 Delayed Quote.14.51%
COOPER ENERGY LIMITED 1.96% 0.26 Delayed Quote.-7.14%
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