Central Petroleum Announces Early Gas Sales from Northern Territory Gas Field

Brisbane based Central Petroleum has announced agreement with Power and Water Corp (PWC) for the early sale of gas under a Gas Sale and Purchase Agreement executed in September 2012.

Under the new arrangement, Central will immediately begin selling approx. 2TJ/day of gas from its Palm Valley gas field in advance of the commencement of the Dingo Gas field which remains on schedule and under budget, with completion to be in the second quarter this year. 

“The sale of early gas from Palm Valley will be incremental to the current gas production already occurring from Palm Valley under a Gas Sale Agreement with Santos, and provides an acceleration of gas sales revenue with only a small incremental operating cost,” Central said.