“QGC now has all of the necessary approvals, reserves and funding in place to develop the gas fields at both Berwyndale South and Argyle, and for pipelines connecting each site to the Roma-to-Brisbane Gas Pipeline, and connecting the two gas fields if required,” said managing director Richard Cottee.
“This allows QGC and its joint venturers the maximum flexibility in gas delivery from the area.”
The company is developing the Argyle gas field in partnership with Pangaea Oil & Gas to supply 7.4 petajoules a year to Incitec Pivot Limited from 2007 under a 10-year contract which became unconditional last Friday.
QGC is currently developing its first project at PL201 (Berwyndale South), including a 14-kilometre lateral pipeline linking the field to the Roma-to-Brisbane pipeline.
“These processing and transportation facilities are being designed with sufficient capacity to meet all of the company’s existing gas supply contracts,” Cottee said.
At PL201 (Berwyndale South), QGC holds a 90% interest in partnership with Sentient Global Resources Fund (10%). At PL 179/PL 229 (Argyle), QGC holds a 59.375% interest in partnership with Pangaea Oil & Gas Pty Ltd (40.625%).