Arrow aims for growth

ARROW Energy has outlined its business strategy for growth into 2007 and beyond, which involves expanding its activities both at home and abroad.
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Speaking at the company’s annual general meeting last week, managing director Nick Davies said the company is next year planning an aggressive reserve certification program at its Surat and Bowen Basin tenements to meet growing customer demand and to allow the start-up of the Moranbah-Gladstone pipeline.

The company is also planning to ramp up Surat Basin production to 40 million cubic feet of gas per day, as well as starting development of two or three more projects in the region.

Also in Australia, Arrow hopes to determine the technical and economic feasibility of converting coal seam methane to products, such as liquefied natural gas, gas-to-liquids, or compressed natural gas. Last month, the company signed a deal with alumina producer, Alcan South Pacific, to undertake a GTL feasibility study in Queensland.

Meanwhile, Davies said the company was looking to secure more projects and partners in other high growth Asian markets, following on from its acquisition of three CSM exploration blocks in northeast India last month. To fund this overseas expansion, Davies said the company was planning a partial listing of its international assets.