Operator of the Casino Henry Joint Venture (JV), Cooper Energy, announced the new gas sales agreement with Origin for the supply from 1 March 2018 to 31 December 2018.
The new agreement, at current market prices, replaces the existing supply agreement with EnergyAustralia, which expires on 28 February and has been in operation since the Casino field commenced supply in 2006.
Origin will purchase 100 per cent of the JV’s production, which will be processed under a new agreement with Lochard Energy at the Iona Gas Plant for a matching period.
The Casino Henry JV produces gas from the Casino, Henry and Netherby gas fields, located in VIC/L24 and VIC/L30 in the Otway Basin, offshore Victoria.
Cooper Energy holds a 50 per cent operators interest in the JV, with Mitsui E&P Australia and AWE Limited holding 25 per cent interests respectively.
Total production from the field for the financial year to date has averaged approximately 36 TJ/d, with an increase in output expected following the completion of the workover of the Casino-5 well scheduled for February.