Cooper Energy has again pushed out the final investment decision, blaming the Commonwealth’s gas intervention.
Cooper Energy has again pushed out the final investment decision on its next gas project off the coast of Victoria until it can calculate how the Commonwealth’s gas intervention will hit the project.to make a final investment decision by May, after it put the proposed phase three development of its Otway Basin gas project off Victoria under review in January.
“Our plan had been final investment decision in April or May. That’s now lost. That timing is foregone because of the regulatory changes that are pending.” The project, which Credit Suisse expects to cost about $400 million, is scheduled to start supplying gas in 2025 and so will be covered by the government’s code of conduct.that shocked the gas industry, as they envisage low-risk infrastructure-like returns for a commodity business exposed to resource risk.
Production was 16 per cent higher at 1.82 million barrels of oil equivalent, and revenue was up 6 per cent to $101.2 million in the six months to December 31.
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