Page 15 - AsianOil Week 27 2021

AsianOil NEWS IN BRIEF AsianOil

trusted to bring jobs and opportunity to the
Territory,” Minister Pitt added.
“The Labor Party have shoved the drilling
program legislation off to a Senate Committee
where the Greens have pledged to wreck the
gas industry by any means at their disposal.
“As the leader of the Greens Mr Adam
Bandt has made clear – Labor and the Greens
will seek to rule in coalition to destroy the gas
industry, destroy the resources sector and run
our economy into the ground.”
AUSTRALIAN MINISTER FOR RESOURCES AND
WATER, July 7, 2021
Warrego commits to

Long Lead Items for West

Erregulla gas processing
“This power plant is a game changer for OCEANIA
the Bac Lieu province,” said Scott Osborne, plant
Bechtel’s General Manager, Infrastructure, Grants to help speed up
Asia Pacific. “We want to make a difference Warrego Energy has commenced payments to
in supporting Mekong Delta and Vietnam by Beetaloo drilling program Australian Gas Infrastructure Group (AGIG)
creating jobs and training, working with local to enable it to commit Long Lead Items (LLIs)
businesses, and providing new opportunities The Coalition Government has announced for the construction of the mid-stream 87
for those in the region. We are proud to be a the first grants under the $50 million Beetaloo TJ/d gas processing facility for Phase 1 of the
part of Vietnam’s future, contributing to its Cooperative Drilling Program to help West Erregulla Gas Project.
energy security, trade, and economy.” accelerate development of gas projects in the Under the LLIs arrangements,
BECHTEL, July 6, 2021 Northern Territory. Warrego will make further payments
Minister for Resources and Water Keith to AGIG so that it can commit to all
Pitt has said the three grants to Imperial Oil necessary LLIs prior to project finance
EAST ASIA and Gas would provide up to $21 million to becoming available. Warrego secured
support three new exploration wells in the funding for its 50% share of up to $31.5
Qatar Petroleum signs a company’s EP187 exploration zone in the million of LLIs via a successful $50
basin’s east.
million Placement undertaken in June
15-year SPA with CPC Program, grants of up to $7.5 million per well 2021. In line with the proposed project
Under the Beetaloo Cooperative Drilling
financing arrangements, payments
Qatar Petroleum today entered into a 15-year are available to applicants. Further grants for LLIs will be on a several basis.
LNG Sale and Purchase Agreement (SPA) are expected to be announced in the coming Payments associated with the LLIs will
with CPC Corporation, Taiwan (CPC) for months. form part of the overall gas processing
the supply of 1.25 million tons per annum “The Beetaloo Sub-basin is potentially a plant development and will be refunded
(MTPA) of LNG. world-class gas resource which could create back to Warrego once the full project
The SPA was signed by His Excellency Mr. thousands of jobs and help bolster supplies of development agreement with AGIG is in
Saad Sherida Al-Kaabi, the Minister of State gas for the domestic market and for exports place and project finance is available.
for Energy Affairs, the President and CEO of around the world,” Minister Pitt said. Warrego’s CEO Australia, David Biggs,
Qatar Petroleum, and Mr. Shun-Chin Lee, “The Coalition Government said: “Committing to LLIs now will enable
the President and Acting Chairman of CPC, announced the new strategic basin plan Phase 1 of the Project to maintain its targeted
during a virtual ceremony attended by Sheikh for the Beetaloo Sub-basin in December, first gas date in mid-2023.
Khalid bin Khalifa Al Thani, CEO of Qatargas with the aim of speeding up investment, “We are entering a period of high activity
and senior officials from both sides. exploration and development to unlock at West Erregulla with flow testing of WE-4
Pursuant to the agreement, LNG deliveries jobs and resources under the gas-fired underway, followed by the testing of WE-
will commence in January 2022, and will be recovery program. 5, reserves certification, a gas processing
delivered to CPC’s receiving LNG terminals. “Grants under the Beetaloo Cooperative agreement, permitting and project finance.
This SPA further demonstrates the State of Drilling Program are expected to deliver By committing to the LLIs we will further
Qatar’s continued commitment to meeting the several additional exploration wells by 2022 de-risk the project and facilitate a smooth
growing energy requirements of its customers and bring forward at least $150 million in start to construction post necessary project
around the world in the form of reliable private investment in the basin.” approvals.”
long-term LNG supplies. Since the first LNG Minister Pitt said development in the The West Erregulla Gas Project is located
delivery in March 2006 to date, CPC has Beetaloo Sub-basin could transform the in the onshore Perth Basin, approximately 230
received more than 63 million tons of LNG Northern Territory economy and generate up km northeast of Perth, Western Australia, in
from Qatar. to 6,000 jobs, mostly in the Territory, by 2040. EP469.
QP, July 7, 2021 “Only the Coalition Government can be WARREGO ENERGY, July 5, 2021

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