Oil and Gas News

Strike undeterred by COVID-19 challenges

Strike Energy chairman John Poynton has described 2020 as a year like no other in the history of the company, but one where it has overcome significant challenges.

“The COVID-19 pandemic presented huge challenges across the Australian economy and energy sector this year,” Poynton said.

“I am very pleased to reported that our company has been resilient through this crisis. Our management team has worked diligently to mange the health risks of our staff and contractors, which has ensured the continuity of our operations.”

Poynton said the next 12 months for Strike were set to be exciting with it moving to a final investment decision (FID) on West Erregulla, as well as undertaking new exploration and appraisal activities at its Perth Basin assets.

With the company exploring the options of more Perth Basin gas, Strike is confident it will also mean lower costs, lower CO2, new industry options and being able to reach broader users.

During the last financial year, Strike delivered a highly successful exploration program at West Erregulla, with the West Erregulla 2 conventional gas discovery having a gross contingent resource booking of almost 1.2 Tcf of gas.

The discovery has proven that Waitsia was not anomalous and that the North Perth Basin is host to a world-lass conventional hydrocarbon system.

“The discovery in this high-quality gas resource is not only exciting for Strike’s shareholders, but also for Western Australia. WA has a mature, m significant and reliable domestic gas market which has sustained the state’s mining, manufacturing and electricity sectors for decades,” Poynton added.

Strike announced a partnership with Australian Gas Infrastructure Group to build, own and operate the West Erregulla gas plant in May.

The two companies entered into front-end engineering and design (FEED) on the gas processing facility, with Strike now working with its joint venture partner Warrego Energy towards a FID for the phase 1 development.

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