Mosaic is currently completing a full technical and commercial evaluation of gas storage in the nearly depleted Silver Spring-Renlim Gas Field, which has the capacity to store up to 100 petajoules of gas.
This review includes an updated reservoir simulation study, a preliminary study on operational aspects of reservoir and field facilities, and a review of commercial parameters of various storage options.
In addition, Mosaic has signed an agreement to acquire Santos’ interest in several production licences in the southern Surat-Bowen Basin, including the Churchie Field.
Mosaic said that the current daily production from the acquired permit interest is approximately 2 terajoules per day of gas and 25 barrels per day of oil/condensate.
Mosaic will accelerate the appraisal and development activities of the Churchie Field by drilling the Churchie-11 gas/condensate development well in mid-2009. The company hopes to tie-in underdeveloped proven reserves such as those found in the Churchie-1 and Norrindoo-1 wells.