Australia's Metgasco says Odin gas field to come online by September

ASX-listed Metgasco on July 31 said that Odin gas field, located in Australia’s Cooper basin, is expected to come online and start supplying gas by September 2023.

“The PRL 211 joint venture is working to complete the accelerated connection of the Odin gas field so supply to domestic gas users can commence prior to the conclusion of the current quarter,” the company said.

PRL 211 joint venture comprises Metgasco and Vintage Energy with 25% and 50% stakes, respectively, while Bridgeport holds the remaining 25%. The Odin gas field was discovered by the joint venture in 2021. The field has independently certified contingent resources of 40 petajoules. 

Metgasco said that the site works for connecting the Odin-1 gas well commenced on July 23. A significant milestone has already been achieved with the successful completion of the hydrotest, confirming the integrity of the 1.4 km Fiberspar link from the well, it added.

The gas supply from the Odin gas field has already been contracted to Pelican Point Power, a joint venture between Engie and Mitsui & Co. The gas supply contract is set to be in effect from the start-up of Odin until December 2024.

Pelican Point Power Station is a 497 MW combined cycle gas power plant in South Australia and is regarded as a critical infrastructure asset for energy security and system stability in South Australia.