Oil and Gas News

Comet Ridge dedicates quarter to Mahalo

Comet Ridge and its joint venture partners have continued to assess the best way to take the Mahalo gas project in Queensland forward during the first quarter of 2021.

The company also had to consider the best way to maximise the three 100 per cent blocks that lie immediately north of the Mahalo gas project.

The three blocks have been marked as driving down unit costs and increasing the total gas off take form the combined Mahalo hub area when combined as a development concept.

The Mahalo gas project, with the two petroleum leases (PL’s) already awarded, is Comet Ridge’s flagship gas project and when in production, will provide the scale and infrastructure to underpin development of its 100 per cent owned blocks in the Mahalo gas hub.

The Mahalo gas project, focussed initially on the shallow fairway in PL 1082 and 1083, is currently a joint venture between Comet Ridge (40 per cent), Santos (30 per cent) and APLNG (30 per cent).

The joint venture made noticeable progress over the first quarter around the structure of the Mahalo JV and plans for progress in the Mahalo hub area.

Comet Ridge expects to be able further update the market on this progress over the coming weeks.

In addition, during the quarter the company continued geological modelling work for the Mahalo North project which lies over the highest productivity Mahalo shallow fairway to the northwest of the Mahalo gas project.

“This work continues to enhance our view of the high quality of the 100 per cent block,” the company outlined in its report.

“Analysis of development options indicates that maximum value for Comet Ridge is achieved via connection to the main Mahalo gas project and expanding the throughput of the Mahalo gas plant and pipeline to accommodate the numerous production well locations available in Mahalo North.”

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