Cooper Energy pens Casino Henry gas sales deal with O-I Australia
- Business & Finance
Australia-based oil and gas company Cooper Energy has signed a new gas supply agreement with O-I Australia for the supply of gas for 2019 from its Casino Henry gas production offshore Victoria.
Cooper Energy holds a 50 percent interest and operatorship of the Casino Henry joint venture with Mitsui E&P Australia and AWE holding a 25 percent interest each.
Casino Henry produces gas from the Casino, Henry, and Netherby gas fields located in licenses VIC/L24 and VIC/L30 offshore Victoria in the Otway Basin. The joint venture parties also hold the adjoining VIC/P44 exploration permit as well as the VIC/RL11 and VIC/RL12 retention licenses.
The company said on Wednesday that it would make three terajoules of gas per day available to O-I Australia, a manufacturer of glass packaging products, from its share of production from Casino Henry.
Gas supply from Casino Henry is fully contracted for the 2019 calendar year with the O-I contract and the contract with Origin Energy signed in September.
The gas supply agreement is the second between O-I and Cooper Energy, with O-I’s commitment in 2015 to take one petajoule (PJ) per annum from the Sole gas field being the first supply contract secured for the Sole Gas Project. Cooper will supply O-I with gas from the Sole field from January 2020 for the life of the project.
Cooper Energy managing director, David Maxwell, said: “O-I were the foundation gas customer for Sole and their early commitment in August 2015 set the ball rolling for the contracting and financing of the Sole Gas Project. We are delighted to be able to commit an additional supply agreement with O-I.
“The agreement with O-I is the seventh term contract we have written since we began building our portfolio of gas supply assets and gas sales agreements. We expect to write further new contracts with a diversity of gas buyers and contract periods in the second half of the financial year as we contract more gas from Sole.”