Tap has about 33 petajoules of gas available to it under arrangements entered into in 2005 with the John Brookes Joint Venture - which comprises operator Apache Energy (55%) and Santos (45%). This gas is to be delivered over the next nine years.

The deal comes just two weeks after Tap signed a smaller, $12 million short-term gas sales contract with another WA buyer.

In both cases Tap did not name the third party, but said the deals represented a “substantial proportion” of the gas it is entitled to earn from the gas development.

Both deals are expected to add about $30 million to Tap’s forward gas sales revenue.

Tap said it was also continuing to pursue gas exploration and appraisal opportunities in two other Apache Energy-led joint ventures.

“In the Harriet joint venture, preparations are in process to drill the large Marley prospect located 3.5 kilometres west-southwest of the Campbell platform,” Tap said.

“The Marley prospect has the potential to contain around 1 trillion cubic feet of gas (143 petajoules net to Tap) and 20 million barrels of recoverable condensate (2.53 million barrels net to Tap).”

Further, Tap is a participant in WA-33-R where the JV is flow-testing the Maitland gas field.