Cooper Energy and APA Group have extended the transaction agreement for the framework for commencing Sole gas sales agreements (GSAs) and commissioning the Orbost Gas Processing Plant (OGPP).
As announced on April 12 2021, Cooper Energy exercised its option to extend the transition agreement by 12 months to 1 May 2022.
Cooper Energy advises that APA and Cooper Energy have agreed to amend the agreement to further extend by a period of two months so that the agreement now expires on 30 June 2022.
The two companies are working constructively together on mutually acceptable long-term arrangements.
The extension provides additional time for these discussions following completion of the current portion of the OGPP phase 2B work program.
In January this year Cooper Energy has reported that the average processing rate at the OGPP, owned by APA Group, reached 44.3 terajoules a day (TJ/d) in December.
This indicated a 5 per cent rise compared to the month prior which recorded 42 TJ/d.
The higher average processing rate in December reflects improvements due to continued optimisation of process parameters of the gas plant.
Cooper Energy advised that operational improvements continued into January with a stable processing rate of 50 TJ/d to January 12.