Completion of Minerva Gas Plant Acquisition

Source Press Release
Company Cooper Energy LimitedAWE LimitedBHP GroupMitsui & Co., Ltd. 
Tags Asset Deals, Deals, Refinery Project, Refining & Marketing Activities
Date December 05, 2019
  • Plant to be connected to Casino Henry gas operations
  • Productivity and cost benefits, capacity to process new discoveries such as Annie
  • Connection expected by mid-2021 subject to FID and approvals

Cooper Energy (ASX:COE) announces completion of the transaction for acquisition of the Minerva Gas Plant by the participants in the Casino Henry joint venture (Cooper Energy 50% and Operator, Mitsui E&P Australia and Peedamullah Petroleum, collective interest 50%) announced to the ASX on 1 May 2018.

The plant has been acquired from the Minerva Joint Venture participants (BHP Petroleum 90% interest and Operator, Cooper Energy 10% interest) following the cessation of production from the Minerva gas field announced 3 September 2019.

Cooper Energy and Mitsui have acquired the plant to process gas from the Casino, Henry and Netherby gas fields and from economic new discoveries anticipated from exploration. The first new discovery, Annie, made in September 2019, is currently the subject of analysis and modelling to determine resource size and development options utilising the Minerva Gas Plant.

The connection of existing producing fields to the plant is expected to deliver benefits including lower processing costs, improved recovery enabled by lower inlet pressure and the ability to offer customers uninterruptable supply. The Minerva Gas Plant has processing capacity of up to 150 TJ/day and capability for processing of liquid hydrocarbons.

Planning for engineering and construction works to connect the Minerva Gas Plant to the Casino Henry gas gathering system is well advanced. This project includes minor modification to the gas plant, connection of onshore pipelines and connection of the Casino Henry control system to the Minerva Gas Plant control room and associated regulatory approvals. The project is expected to be completed by mid- 2021.

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd