Cooper Energy to invest in gas supply in Australia

Cooper Energy announced a $55 million commitment to support increased and new gas supply for south-east Australia via the Minerva Gas Plant.

The Minerva Gas Plant is near Port Campbell, Victoria and has the capacity to process up to 150 TJ/day.

Cooper Energy and Mitsui Group took possession of the Minerva Gas Plant in December 2019. Since then the front end engineering and design work have been completed to support the Final Investment Decision to upgrade and connect the plant to process gas produced from the existing Casino, Henry and Netherby fields in the VIC L24/L30 permit areas held by Cooper Energy and Mitsui Group.

Cooper Energy and Mitsui Group will invest $37 million to upgrade the plant and have spent $17.8 million purchasing the plant and on front end engineering and design work and care and maintenance.

Cooper Energy managing director, David Maxwell, said: “This investment decision represents an important milestone in Cooper Energy’s continuing growth as a safe, competitive, efficient and reliable developer and marketer of new gas supplies for homes and businesses in south-east Australia.”

The infrastructure works at the Minerva Gas Plant will enable the supply of 16 PJ of currently undeveloped gas.

Maxwell said this is an important commitment to infrastructure investment, local jobs and increased domestic gas supply.

“The investment follows the successful exploration program by Cooper Energy and Mitsui Group resulting in the Annie-1 gas discovery, in the Otway Basin, the first offshore discovery in south-east Australia over seven years.”

The project will draw gas from four offshore wells (Casino-4, Casino-5, Henry-2, and Netherby-1) into the Minerva plant via a pipeline tie-in and minor modifications. This will improve recovery enabled by lower plant inlet pressure and provide the ability to offer customers firm supply.

Following the completion and performance testing, first gas is expected within the September quarter 2021 with this expectation incorporating allowances for uncertainty from COVID-19 as it is presently understood. It is possible further restrictions and supply chain disruption arising from COVID-19 could impose delays to this schedule.

Cooper Energy is the operator with a 50 per cent interest holder and Mitsui Group has the remaining 50 per cent stake.