Minerva Gas Plant Acquisition

Source Press Release
Company Cooper Energy LimitedAWE LimitedBHP BillitonMitsui & Co 
Tags Asset Deals, Deals, Refinery Project, Refining & Marketing Activities
Date May 01, 2018

Cooper Energy (ASX: COE) announces that it, together with AWE Limited and Mitsui E&P Australia Pty Ltd, has signed an agreement with  BHP Billiton Petroleum (Victoria) Pty Ltd (“BHP”) for the acquisition of  BHP’s 90% interest in the Minerva Gas Plant, onshore Otway Basin, Victoria. Cooper Energy currently holds a 10% interest in the Minerva Gas Plant.

The agreement, which is conditional on completion of regulatory approvals and assignments, provides for the transfer of the plant and associated land after the cessation of current operations processing gas from the Minerva gas field, offshore Victoria.

After completion of the transaction, Cooper Energy will hold a 50% interest in the gas plant and AWE Limited and Mitsui E&P Australia will each hold a 25% interest. Ownership of the offshore Minerva gas field and offshore gas pipeline is unaffected by the plant transaction, remaining at  BHP 90% (and Operator) and Cooper Energy 10%.

The Minerva Gas Plant (refer Figure 1 following) is located approximately 5 km north-west of Port Campbell. The plant, which was commissioned in January 2005 has gas processing capacity of approximately 150 terajoules per day and hydrocarbon liquids processing facilities. The Minerva Gas Plant is connected directly to the SEAGas Port Campbell to Adelaide pipeline and to the South West Pipeline, owned by APA Group.

For more details click here,

Source: EvaluateEnergy® ©2018 EvaluateEnergy Ltd