Eastern Star Gets Green Light to Develop Coonarah Project
With the granting of the development approval, and the independent reserves report announced in February 2002, the Company will satisfy the important pre-conditions for the granting of a Petroleum Production Lease by the New South Wales Minister for Natural Resources.
The Company is now proceeding to finalize the detailed design of the 20 kilometer pipeline from the gas field to the western outskirts of Narrabri, and the selection of electricity generating equipment. The Company is also finalizing a long term Power Purchasing Agreement with the major regional electricity retailer Country Energy, and putting in place appropriate financing arrangements.
The Coonarah Gas Field, in Petroleum Exploration License 238, is the first commercial gas field in New South Wales, with independently accredited Proved and Probable reserves of 11.3 Petajoules (of which over 70% is in the Proved category). It is proposed that the gas reserves will be produced from the four existing completed wells on the field, and delivered under natural flow through a buried 6-inch steel pipeline to a new power generation site on the western outskirts of Narrabri. Subject to final design configuration, between 6 and12 megawatts of electricity will be generated using reciprocating gas engines, for sale into existing Country Energy infrastructure over a minimum 10-year period.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- UK Oil Regulator Publishes New Emissions Reduction Plan
- PetroChina Posts Higher Annual Profit on Higher Production
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- McDermott Settles Reficar Dispute
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- USA Oil and Gas Job Figures Jump
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- Blockchain Demands Attention in Oil and Gas
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Equinor Makes Discovery in North Sea
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension