Project Profile
Value: US$270 million
Location: 40 km offshore Victoria in southeast Australia, Gippsland Basin
Reserves: 43 million barrels of oil equivalent (2P)
Plateau production: 651.21 mcm per year (2021-28)
Start-up Year: March 2019
The Sole gas field is located in the offshore Gippsland Basin and is about to enter detailed Front End Engineering and Design (FEED). The gas will be sourced from conventional gas reservoirs, using existing gas infrastructure and is in close proximity to the Eastern Gas pipeline which is linked to the Victoria and New South Wales gas markets. The FEED phase is anticipated to be complete in the first half of calendar 2016. Gas market offtake contracts and finance for project construction will be developed in parallel with the FEED in readiness for a likely FID1 decision in the third quarter of the 2016 calendar year.
Cooper is currently arranging financing for the project, which will include the drilling of two horizontal wells. It aims to bring the field onstream by March 2019 and has already signed gas sales agreement with Alinta Energy, EnergyAustralia and AGL Energy.
Operators:
Cooper Energy: Operator with 100% interest
Contractors:
Subsea 7: Subsea tie-back of the Sole well to the Orbost Gas Plant