AUG 2014
CORPORATE ACTIVITY
RLMS_brochure header.indd 1
Envestra
19 AUG: The Cheung Kong Group’s ownership stake in
takeover target Envestra reached 90%. This followed rival
bidder APA Group’s acceptance of Cheung Kong’s $1.32
per share cash bid earlier in the month. APA had proposed
to acquire the gas distribution company through a scheme
of arrangement for 0.1919 of its securities for each Envestra
share; instead it will now receive $784m for its one-third stake
in the company. The agreement that sees APA manage and
operate Envestra’s distribution network will remain in place
and runs until 2027. Cheung Kong has indicated that it will
seek to compulsorily acquire all outstanding Envestra shares.
AGL Energy
20 AUG: AGL Energy reported that it would seek a buyer for
its half share in the Arrow Energy-operated Moranbah Gas
Project and associated assets. With most gas from the Bowen
1/4/08 8:58:26 AM
Basin field destined for export as LNG AGL has now judged
the assets to be non-core. The assets include a half share of
the Moranbah field and production facilities, a 50% back-in
right to the ATP 1103P exploration tenement, an operated
50% interest in the North Queensland Energy JV supplying
gas and electricity to the Townsville market and a 5%
overriding royalty on Arrow’s revenue from the MGP and ATP
1103P. 2P reserves of 1,253 PJ and 3P reserves of 2,774 PJ
will be included in the sale, the MGP produced a total of 15.2
PJ during the last financial year.
AGL ENERGY BOWEN BASIN RESERVES AND
RESOURCES AS AT 30 JUNE 2014 IN PJ:
Field
1P
2P
3P
2C
MGP (50%)
75
285
481
234
ATP 1103P (50%)
0
968
2,191
2,540
Total
75
1,253
2,672
2,774
AGL’s interest in ATP 1103P is governed by
a project agreement lasting until 2050. The
agreement confers no exploration rights
or cost obligations but allows participation
in any commercial development up to a
50% interest by paying the required share
of back costs. The tenement is a major
component of Arrow’s proposed Bowen
Gas Project, to be linked to Gladstone by
the proposed Arrow Bowen Pipeline. AGL
has previously estimated project back in
costs for ATP 1103P at less than $0.05/
GJ however this cost may have increased
as more exploration was undertaken and
design and permitting of the proposed
developments progressed.
AGL ENERGY BOWEN BASIN ASSETS
AGL bought its 50% interest in the
Moranbah assets from BHP Billiton for
$93m in 2006. It now carries them on its
books at $346m but will likely be seeking
a higher price during the sale process. The
company expects to complete the sale by
June next year.
AGL also launched a capital raising of
$1.2b to pay for its purchase of Macquarie
Generation from the New South Wales
Government. The raising is by way of a one
for five pro rata renounceable entitlement
offer with the new shares priced at
$11.00. Pitched at a 23% discount to the
company’s previous closing share price
the raising also gave retail shareholders
the ability to on-sell their rights. The main
asset acquired by AGL is the 2,640 MW
VISIT rlms.com.au
Source: AGL Energy
CONTACT rlms@rlms.com.au
Bayswater coal-fired power station and associated coal
purchasing contracts. The acquisition also includes the
2,000 MW Liddell coal-fired power station, located adjacent
to Bayswater. The working life of Liddell is tied closely to the
Tomago aluminium smelter whose principal power contracts
with MacGen expire in 2017. If Tomago continues to operate
past this time Liddell will reach the end of its ‘technical life’
in 2022. If Tomago closes in 2017 Liddell is expected to be
taken offline soon after.
EXPLORATION
AND APPRAISAL
AGL Energy
6 AUG: AGL Energy advised that it had received approval
for the fracture stimulation and testing of four existing
wells at its Gloucester field from the New South Wales’
Office of Coal Seam Gas. The approval was the first given
for fracc testing under the state’s 2012 Code of Practice
for Fracture Stimulation Activities. AGL’s submissions for
the approval included a Review of Environmental Factors
(REF), an Agricultural Impact Statement
and various other
management plans and assessments; the REF alone ran to
seven volumes. The fraccing approval was greeted negatively
by anti-CSG activists and groups, many had called for a full
EIS to be prepared for the four well pilot program.
RESERVES AND RESOURCES
Comet Ridge
was one of the companies worst affected by this policy, also
losing reserves at its Camden and Hunter Fields.
AGL ENERGY RESERVES AND RESOURCES AS
AT 30 JUNE 2014 IN PJ:
Field
1P
2P
3P
2C
Camden (100%)
41
45
45
0
[30 June 2013]
[44]
[50]
[50]
[0]
Gloucester (100%)
107
527
649
0
[30 June 2013]
[50]
[454]
[565]
[0]
Moranbah (50%)
75
1,253
2,672
2,774
[30 June 2013]
[81]
[1,159]
[2,552]
[2,470]
Total
230
1,835
3,377
2,904
[30 June 2013]
[179]
[1,671]
[3,176]
[2,599]
GOVERNMENT
AND REGULATION
Metgasco
25 AUG: Metgasco advised that it had undertaken discussions
with the New South Wales Government about an out-ofcourt settlement over its action opposing the suspension
of the Rosella-E01 conventional gas well drilling approval.
Media reports flagged a potential $15m settlement for the
company, which suffered a drastic fall in its share price after
the suspension. If no settlement is reached the action is to be
heard in the state’s Supreme Court on the 21st and 22nd of
October.
28 AUG: Comet Ridge reported that the first independently
assessed reserves had been established at the Mahalo Project
in the Bowen Basin. MHA Petroleum Consultants assessed
gross 2P reserves at the project as 55 PJ and 3P reserves at
138 PJ. Comet Ridge has a 40% interest in Mahalo and these
reserves; Santos and Origin Energy each hold 30% interests.
In addition to the reserves, 2C contingent resources at the
field increased from 553 PJ to 820 PJ. Field operator Santos
is continuing dewatering of the Mahalo and Mira multi-wells
pilots at the field.
Victorian Government
AGL Energy
In May this year the government broadened its moratorium
on CSG activity and any fracture stimulation operations to
cover all onshore gas exploration. This prevented Lakes Oil
from drilling two planned conventional gas exploration wells
in the onshore Gippsland and Otway Basins. The moratorium
will remain in place until at least July 2015, allowing the
government to undertake a year-long community consultation
process and to receive the results of benchmarking study
of underground water across the state. It was extended to
that date in November last year when a report from a gas
market taskforce led by Peter Reith recommended that the
government support the development of an onshore gas
industry. Conveniently, lifting the moratorium will not be
considered until after the next state election, due on the 29th
of November 2014.
20 AUG: AGL Energy reported that its 2P CSG reserves had
increased by just under 10% to 1,835 PJ in the year to 30
June 2014. The increase was the result of reserve additions
at the company’s Gloucester Gas Project and the Moranbah
Gas Project. Gross 2P reserves at Arrow Energy’s Moranbah
field increased by 188 PJ to 2,506 PJ with AGL owning a 50%
share. Gross 3P reserves at the field were also up, increasing
from 4,940 PJ to 5,548 PJ.
2P reserves at Gloucester increased from 454 PJ to 527 PJ
as AGL continued appraisal of the field, the company plans
to take an FID on the first stage development in the fourth
quarter of 2015. Reserves at Gloucester were higher at 669
PJ at the end of the 2011 Financial Year before being reduced
as a result of the New South Wales government’s introduction
of two kilometre CSG exclusion zones around towns. AGL
AUG 14
1 AUG: The absurdity of the Victorian State Government’s
moratorium on onshore gas exploration was exposed this
month as Origin Energy began preparations to drill onshore
wells to access the Halladale and Black Watch gasfields,
located five kilometres off the Victorian coast in the Otway
Basin. According to the government such a well is completely
different to an onshore well with targets below land rather than
the sea.
RLMS UPSTREAM GAS REPORT | 2
CSG FUGITIVE EMISSIONS
PIPELINES
CSIRO
APA Group
1 AUG: The CSIRO released a report showing that fugitive
emissions from Queensland and New South Wales CSG wells
were relatively low. The study sampled methane emissions at
37 Queensland wells and 6 NSW wells and recorded average
methane emissions of 3.2 g/min. This equated to 0.02% of the
average well production rate. The CSIRO study was initiated
after two scientists from the Southern Cross University
reported high levels of airborne methane concentrations within
QGC gasfields near Tara in late 2012. The SCU scientists
are yet to release a full report on their fugitive emissions
measurements following the release of their initial findings to
the media.
20 AUG: APA Group advised that it is considering three
different routes to link the Northern Territory to Eastern
Australia’s pipeline network. The company is currently
undertaking a feasibility study into the link, with the study
likely to be completed in the 2016 financial year. The routes
under consideration include linking the Alice Springs to Darwin
pipeline to Mt Isa, to a point in the middle of the Carpentaria
Gas Pipeline or to Moomba. The route lengths vary between
620 km and 1,100 km.
The pipeline link would facilitate the transfer of gas from
onshore and offshore NT into the Queensland and New South
Wales markets. Feed gas could come from offshore fields or
onshore conventional and unconventional fields. If constructed
the pipeline would provide a route to market for potential
shale basins such as the McArthur and Southern Georgina or
conventional gas from the Southern Amadeus. The business
case for the pipeline link would be supported by rising East
coast gas prices; construction of further LNG trains in the
Northern Territory would decrease the likelihood of the pipeline
going ahead.
POTENTIAL APA PIPELINE ROUTES
Source: APA Group
AUG 14
RLMS UPSTREAM GAS REPORT | 3
AUG 2014
CORPORATE ACTIVITY
Drillsearch Energy
28 AUG: Drillsearch Energy won a takeover battle for
Ambassador Energy with Magnum Hunter Resources when
its interest in the target company topped 84%. Drillsearch
was forced by the Takeovers Panel to reverse the purchase
of a 19.99% stake in Ambassador from company insiders but
after a mandated fourteen-day waiting period the shareholders
concerned started re-accepting the bid. Drillsearch is paying
1 of its shares for every 5.4 Ambassador shares plus $0.05
in cash for each Ambassador share under the offer. With
Drillsearch shares closing at $1.455 on the 29th of August the
bid values each Ambassador share at $0.32 and the entire
company at $38.3m.
Ambassador’s primary asset is its 47.5% target in the
Cooper Basin Patchawarra Trough tenement PEL 570. This
tenement is prospective for conventional wet gas targets
as well as a liquids rich Patchawarra Basin Centred Gas
Play, with Drillsearch already holding adjacent acreage. As
the only company with an interest in both the Patchawarra
unconventional play and the Nappamerri Trough play
Drillsearch considers the Nappamerri as potentially a bigger
prize however in the Patchawarra target formations are
shallower, CO2 content is lower and liquids content is higher.
DRILLSEARCH ENERGY COMPARISON OF NAPPAMERRI
AND PATCHAWARRA PLAYS:
Play
Liquids Content
CO2
Content
Nappamerri
1 – 10 bbls condensate/MMscf
>30%
Patchawarra
26 bbls condensate/MMscf
22%
37 bbls LPG/MMscf
Source: Drillsearch estimates
UIL Energy
20 AUG: Western Australia-focussed gas explorer UIL
Energy advised that it planned to list on the ASX. The
company has assembled tenement interests in the North
Perth and Canning Basins considered prospective for
conventional and unconventional hydrocarbons. UIL’s
management includes MD John de Stefani and COO Vic
Palanyk, previously Bow Energy’s CEO and COO until
it was acquired by Arrow Energy. The company is also
backed by Simon Hickey and well-known CSG investor
Stephen Bizzell.
UIL ENERGY PERTH BASIN ACREAGE
UIL ENERGY CANNING BASIN ACREAGE
Source: UIL Energy
AUG 14
RLMS UPSTREAM GAS REPORT | 4
UIL plans to raise $4.2m - $6m through its listing, giving it a
market cap of $21.6m - $23.4m. Funds raised will be used
to undertake seismic programs in the North Perth Basin and
gravity magnetic surveys in the Canning. The company has
100% of five Perth Basin tenements or application areas and a
50% operated interest in one further tenement in the basin (EP
447). In the Canning UIL has 100% of two special prospecting
areas and one tenement application area, all located in the
south of the basin in the Goldwyer shale play.
The company will issue shares at $0.20 under the offer with
every two shares receiving one free $0.20 option expiring at
the end of 2015. These options will not be listed and their
exercise will result in one share plus a further $0.24 option
expiring at the end of 2018. UIL’s offer closes on the 17th of
September with the company planning to commence trading
on the ASX on the 25th of September.
FARM-INS AND ACREAGE
South Australian Government
26 AUG: The South Australian Government announced the
winning bids for a new acreage release in the Cooper Basin.
The four new tenements are all located on the southern edge
of the Cooper and attracted guaranteed exploration spend
of between $6m and $40m. Senex Energy won two of the
blocks with Strike Energy and New Hope Coal subsidiary
Bridgeport Energy each winning one. Parts of the new
acreage are prospective for western flank oil, unconventional
gas and deep CSG.
Falcon Oil & Gas
21 AUG: Falcon Oil & Gas advised that it had executed a farm-
in agreement with Origin Energy and Sasol for its Beetaloo
Basin acreage, located in the centre of the Northern Territory.
The agreement, first announced in May, will allow Origin and
Sasol to each earn up to a 35% interest in three Beetaloo
tenements through funding up to $165m of exploration and
appraisal in three stages. Falcon has also received a $20m
cash payment from the two companies. Origin has become
the operator of the tenements and plans to commence an
exploration and appraisal program of three vertical wells next
year.
EXPLORATION AND
APPRAISAL
Beach Energy
28 AUG: Beach Energy reported that it had completed
drilling its first exploration well in the onshore Bonaparte
Basin. Cullen-1 was drilled to a total depth of 3,325 m with
54 m of core recovered. With pre-drill targets including shale
and tight gas reservoirs in the Milligans Formation and the
Langfield Group Beach advised of indications of gas and gas
liquids from both conventional and unconventional targets.
The company is farming in to earn up to an 85% interest in
the onshore tenements EPs 126 and 138 and up to 55% of
offshore tenements EP 135 and NTC/P 10 from privately held
Territory Oil & Gas.
SA COOPER BASIN RELEASE
Block
Company Work Program
(guaranteed)
Spend
(guaranteed)
CO2013-A
Senex
Energy
13 wells
$40.1m
CO2013-B
Strike
Energy
2 wells
CO2013-C
Bridgeport 3 wells
Energy
200 km2 3D seismic
575 km2 3D seismic
$6m
$13.3m
300 km 2D seismic
CO2013-D
Senex
Energy
8 wells
$29.6m
600 km2 3D
Source: DMITRE
AUG 14
RLMS UPSTREAM GAS REPORT | 5
AWE
26 AUG: AWE reported that it had drilled the Senecio-3
appraisal well to a total depth of 3,370 m after intersecting
the targeted Dongara/Wagina sandstone reservoirs at depths
between 2,635 m and 2,759 m. The Perth Basin well was
drilled to a depth greater than initially planned after elevated
gas shows were detected below the Dongara/Wagina
intervals. If the results of core testing and logging of Senecio-3
are positive AWE plans to commence the approval process
for the development of the first stage of Senecio. The tight gas
field is located in the L1 and L2 tenements, in which AWE and
Origin Energy each own a half share.
PetroFrontier
26 AUG: PetroFrontier reported that no hydrocarbons had
flowed from the fracture stimulation of the OzBeta-1 well in
EP 127 in the NT section of the Southern Georgina Basin.
JV partner Statoil completed a small water-based fracc over
a 3 m interval of the well targeting the Arthur Creek shale,
pumping 137 m3 and 14.1 t of sand into the well. The well
then produced 157 m3 of water but no measurable oil or
gas. Statoil will now move on to fracc and test the OzDelta-1
well in EP 128. Statoil’s farm-in may earn it up to 80% of
PetroFrontier’s interest in its six Southern Georgina tenements;
Australian company Baraka Petroleum’s 25% interest in
EPs 127 and 128 are being diluted as it has elected not to
participate in the current work program. PetroFrontier’s share
price was hit hard by the lack of exploration success; the
company closed at C$0.09 on the 29th of August, down
50% on the month and giving it a market cap of just C$7.1m
($7.1m).
RESERVES AND RESOURCES
Beach Energy
25 AUG: Beach Energy reported an increase in the 2C
contingent resource at its Nappamerri Trough Natural Gas
Project over the 2014 financial year. The gross 2C contingent
resource in the South Australian section of the project
(Formerly PEL 218 but now PRLs 33 – 49, owned Beach
70%/ Chevron 30%) increased by 436 bcf (or 79 Mmboe).
The gross 2C resource in ATP 855P in the Queensland section
of the trough was unchanged at 629 bcf (Beach 46.9%/
Icon Energy 35.1%/Chevron 18%). Resources in this section
of the project will likely receive a boost after the planned
fracture stimulation and testing of four wells commencing in
September. With the first stage of Chevron’s farm-in to the
Nappamerri project to be completed early next year the US
major’s decision to elect to proceed to the next stage of the
project including pilot operations will be keenly watched.
Chevron will have 60 days from the end of the first stage to
proceed with PEL 218 while it must decide on ATP 855P by
31 March 2015.
Beach’s total net Cooper Basin 2C unconventional resource
increased from 1,769 bcf to 2,010 bcf over the year. This
includes the company’s operated Nappamerri Trough acreage
and its 20.21% share in the SACBJV, where gross resources
declined 57 bcf over the period. With the low liquids content
of Nappamerri unconventional gas less than 2% of the
resources are gas liquids; the remainder is methane and
ethane.
NAPPAMERRI TROUGH NATURAL GAS PROJECT RESOURCE BOOKING AREAS
Source: Beach Energy
AUG 14
RLMS UPSTREAM GAS REPORT | 6
SHALE GAS FOR JUNIORS
August saw a disappointing result from appraisal of the Arthur Creek shale play in the Southern Georgina Basin.
Statoil fracced the OzBeta-1 well and recovered fraccing fluids however no hydrocarbons flowed from the well.
This was despite multiple oil shows when that well and the four others in the program were drilled. A further well
is to be fracced and tested this year but the poor result is undoubtedly a setback for the play. The result was
not material to Statoil but its JV partners the juniors PetroFrontier and Baraka Petroleum suffered in the share
market. Southern Georgina acreage is the only asset for both of the companies and as a result their viability
is tied to the success of the play. At the end of August the share price of both companies languished near
year lows and their market caps were both in the single digit millions of dollars. If Statoil does not find enough
positives from the current round of exploration to proceed with its Southern Georgina farm-in both companies
will be in trouble.
Some other junior explorers have managed to establish a better model of operation within the shale industry. August saw
Canadian-listed Falcon Oil & Gas seal a farm-in by Origin Energy and Sasol to its Beetaloo Basin acreage. The company has
now secured deep-pocketed partners in each of its three shale basin positions, located in three different continents. As well as
its Beetaloo acreage Falcon has a JV with Naftna Industrija Srbije in the Central Pannonian Basinin in Hungary and a cooperation
agreement with Chevron in the Karoo Basin in South Africa. With exploration risk spread across three different basins and
exploration costs carried by partners in each case Falcon has increased its chance of becoming a successful unconventional
hydrocarbon company.
Two Australian juniors have taken a similar approach with both also having a presence in the Southern Georgina Basin. Central
Petroleum has attracted Total to farm-in to its acreage there while Blue Energy is yet to secure a farm-in partner. Central’s
other plays include the Southern Amadeus, Pedirka and Wiso basins. Blue is also present in the Wiso Basin as well as the
Maryborough Basin and CSG acreage in the Bowen Basin. Central has already attracted two larger partners to fund exploration
in the Southern Georgina and Southern Amadeus in the form of Total and Santos. Blue on the other hand has yet to secure any
farm-in partners across its various plays. By assembling multi basin positions the two companies have increased their chances of
future shale success.
AUG 14
RLMS UPSTREAM GAS REPORT | 7
EASTERN AUSTRALIA CSG:
Reserves at 31 December 2013, production second half 2013 Averages
Field
Ownership
State Basin
Camden Gas Project
AGL Energy* 100%
NSW
Sydney
Gloucester Basin Project
Hunter Gas Project
AGL Energy* 100%
AGL Energy* 100%
NSW
NSW
Gloucester
Sydney
AGL ENERGY
Total for AGL Energy including projects operated by others
Reserves (PJ)
1P
2P
100% ownership of Arrow Energy LNG project
BG GROUP
94% ownership of QCLNG project operator
Total for BG Group including projects operated by others
BLUE ENERGY
Sapphire Field
Total for Blue Energy
ERM POWER
Clarence-Moreton
Total for ERM Power
Blue Energy* 100%
Qld
48
454
565
1,824
3,447
32
669 9,494 13,970
71
3,096 10,326 18,876
121
Bowen
ERM Power *50% CMR 30%,
NSW
Red Sky 20%
ClarenceMoreton
Harcourt*72% Mitsui 28%
50
Total for Harcout Petroleum
QLD
Bowen
Harcourt*62.9% Mitsui 37.1% QLD
Bowen
Metgasco 100%
ClarenceMoreton
METGASCO
Casino Gas Project
NSW
Total for Metgasco
ORIGIN ENERGY
37.5% ownership of APLNG and project upstream operator
Ironbark Project
Origin 100%
NSW
Don Juan CSG Project
Senex Energy* 45%, Arrow
Energy 55%
Paranui
Tibrook
Total for Westside
AUG 14
Westside* 25.5% Mitsui
24.5% BG 50%
Westside* 25.5% Mitsui
24.5% BG 50%
448
1,064
67
175
1,239
3
428
2,542
3
338
2,055
Gunnedah
869
7,416
Surat
QLD
Bowen
QLD
Bowen
QLD
Bowen
3
93
PEL 13, 16
135
101
197
157
358
680
1,524
ATP 771P
8
885
PL 94, Coal
Mining Leases
ATP 769 W
152
347
ATP 788P
33
270
47
ATP 602P
PEL 238
3,061
Qld
3 PL 94, ATP 56 4P
1,141
WESTSIDE CORPORATION
Westside* 51% Mitsui 49%
PEL 457
190
515
Total for Senex Energy including projects operated by others
Meridan
159
9
180
36
Total for Santos including projects operated by others
SENEX ENERGY
17
1,718 5,543
SANTOS
PPLs 1, 2, 4, 5;
PELs 2, 4, 5, 267
PEL 285
PELs 4,267
ATP 814P
259
Total for Origin Energy including projects operated by others
30% ownership of GLNG and project operator
Santos* 80%
Narrabri CSG Project
EnergyAustralia 20%
36
16
180
50
HARCOURT PETROLEUM
Mungi/Harcourt
Lilyvale
Timmy
(TJ/day)
48
ARROW ENERGY
Total for Arrow Energy
Production Tenure
3P
ATP 688P W
4
RLMS UPSTREAM GAS REPORT | 8
QUEENSLAND CSG-TO-LNG PROJECTS:
APLNG (AUSTRALIA PACIFIC LNG PROJECT)
Ownership:
Site:
Laird Point, Curtis Island
Operatorship:
Origin Energy 37.5% / ConocoPhillips 37.5% / Sinopec
25%
Upstream and pipelines: Origin / LNG: ConocoPhillips
Customers:
Status:
Train 1 first LNG mid-2015
Reserves:
Size:
Train 2 first LNG Q4-2015
2 x 4.5 MTPA LNG trains (four-train 18 MTPA ultimate
potential)
Sinopec 7.6 MTPA for 20 years, Kansai 1.0 MTPA for
20 years
1P: 4,581 PJ 2P: 14,091 PJ
3P: 17,459 PJ 2C: 2,679 PJ
Production:
Major Fields
Ownership
State
Basin
Spring Gully
Peat
Talinga/Orana
APLNG* 96.6% Santos 3.4%
APLNG* 100%
APLNG* 100%
Qld
Qld
Qld
Bowen
Bowen
Surat
333 TJ/day (121.8 PJ/year)
Reserves (PJ)
1P
2P
162 2,31
Production (TJ/day)
3P
5,104
129
9
115
ARROW ENERGY (ARROW ENERGY LNG PROJECT)
Ownership:
Operatorship:
Status:
Size:
Shell 50% / PetroChina 50%
Arrow Energy
EIS currently being undertaken
2 x 4 MTPA LNG trains (four-train 16 MTPA ultimate
potential)
Major Fields
Ownership
State
Basin
Arrow Energy* 50% AGL Energy 50%
Qld
Bowen
Arrow Energy* 100%
Arrow Energy* 100%
Arrow Energy* 100%
Arrow Energy* 50%-100%
Arrow Energy* 100%
Arrow Energy* CS Energy 50%
Arrow Energy* 100%
Qld
Qld
Qld
Qld
Qld
Qld
Qld
Bowen
Bowen
Bowen
Surat
Surat
Surat
Surat
Moranbah Gas
Project
Blackwater
Comet
Norwich Park
Surat Basin Fields
Tipton West JV
Kogan North
Daandine
Site:
Customers:
Reserves:
Production:
Boatshed Point, Curtis Island
None announced
1P: 669 PJ 2P: 9,594 PJ 3P: 14,096 PJ
71 TJ/day (25.9 PJ/year)
Reserves (PJ)
1P
2P
3P
Production
(TJ/day)
160
2,512
5,350
31
25
7
27
GLNG (GLADSTONE LNG PROJECT)
Ownership:
Santos 30% / PETRONAS 27.5% / Total 27.5%
/ KOGAS 15%
Santos
Site:
Hamilton Point West, Curtis Island
Customers:
Status:
Size:
FID taken January 2011, first LNG 2015
2 x 3.9 MTPA LNG trains
(three-train 10 MTPA ultimate potential)
Reserves:
Production:
PETRONAS and KOGAS both to take 3.5 MTPA
for 20 years
1P: 1,797 PJ 2P: 5,376 PJ 2C: 1,638 PJ
111 TJ/day (40.5 PJ/year)
Major Fields
Ownership
State
Basin
Fairview
Scotia
Arcadia
Roma Shelf
GLNG* 76.07% APLNG 23.93%
GLNG* 100%
GLNG* 100%
GLNG* 100%
Qld
Qld
Qld
Qld
Bowen
Bowen
Bowen
Surat
Operatorship:
Reserves (PJ)
1P
2P
3P
Production
(TJ/day)
105
21
QCLNG (QUEENSLAND CURTIS LNG PROJECT)
Ownership:
Operatorship:
Status:
Size:
Major Fields
BG Group 90% Train 1 and 97.5% Train 2 / CNOOC
10% Train 1 / Tokyo Gas 2.5% Train 2
QGC (100%-owned subsidiary of BG Group)
Site:
North China Bay, Curtis Island
Customers:
FID taken October 2010, first LNG 2014, second train to
start-up a year later
2 x 4.25 MTPA LNG trains (three-train 12.75 MTPA
ultimate potential)
Reserves:
CNOOC 3.6 MTPA from Train 1 for 20 years, Tokyo
Gas 1.2 MTPA from Train 2 for 20 years, Chubu
Electric up to 20 cargoes over 20 years, BG portfolio
supply: up to 1.7 MTPA to Quintero LNG in Chile to
2030, up to 3.0 MTPA to Singapore for 20 years
1P: 3,096 PJ 2P: 10,326 PJ 3P: 18,876 PJ 2C: 13,700 PJ
Production:
121 TJ/day (44.2 PJ/year)
Ownership
QGC Central
BG* 59.4%-100%
Walloons
Berwyndale South BG* 100%
Kenya-Argyle
BG* 59.4% APLNG 40.6%
BG* 80% Toyota 15% CNOOC 4%
Woleebee Creek
Tokyo Gas 1%
Lacerta
BG* 100%
Bellevue
BG* 70.6% APLNG 30.4%
Paradise Downs BG* 80% VicPet 20%
Lawton
BG* 70% VicPet 30%
AUG 14
Reserves (PJ)
Production
(TJ/day)
State
Basin
Qld
Surat
204
Qld
Qld
Surat
Surat
67
126
Qld
Surat
Qld
Qld
Qld
Qld
Surat
Surat
Surat
Surat
1P
2P
3P
7
RLMS UPSTREAM GAS REPORT | 9