publicly available Cooper to take over BHP’s Port Campbell gas...

publicly available
Cooper to take over BHP’s Port Campbell gas plant

• Monique Patterson

https://www.standard.net.au/story/5374758/cooper-to-take-over-bhps-port-campbell-gas-plant/

COOPER Energy will take over BHP’s Port Campbell gas plant, it has been revealed.


However, BHP will continue to operate the plant until it stops processing gas from the Minerva gas field, which is expected to occur next year. It is believed there will be no immediate job losses.

Cooper Energy, along with AWE Limited and Mitsui E&P Australia Pty Ltd has signed an agreement with BHP Billiton Petroleum for the acquisition of BHP’s 90 per cent interest in the Minerva Gas Plant, onshore Otway Basin.

Cooper Energy currently holds a 10 per cent interest in the plant.

“Cooper Energy will acquire the plant after it stops processing gas from the Minerva gas field, which is expected to occur in 2019 with field depletion,” a Cooper Energy spokesman said.

“BHP will continue to operate the plant until that time.”

After the plant stops processing gas from Minerva, Cooper will take over operation of the plant and implement plans for the plant to process gas from its Casino Henry project and other fields in the region.
David Maxwell, managing director of Cooper Energy, said completion of the transaction would secure a prime asset for the company.

“The Minerva Gas Plant is one of three gas processing plants located onshore Victoria that are currently processing gas from the offshore Otway Basin,” Mr Maxwell said.
He said analysis indicated the plant could offer a highly competitive processing option for gas from Casino Henry and other gas fields in the region.
“Ownership of the plant has clear strategic merit and can significantly enhance the economics of Otway Basin gas development and production.”

“We foresee acquisition of the Minerva plant dovetailing with our exploration and development plans for the offshore Otway Basin.”

Mr Maxwell said the plans included lifting production through the drilling of a development well on the Henry frield and drilling for new gas reserves.

The Minerva Gas Plant is located about five kilometres north west of Port Campbell.
The plant, which was commissioned in January 2005, has gas processing capacity of about 150 terajoules per day and hyrdocarbon liquids processing facilities.

It is connected directly to the SEAGas Port Campbell to Adelaide pipleline and the South West Pipeline, which is owned by APA Group.