Cooper completes BMG wells decommissioning programme in Australia

Sydney-listed Cooper Energy announced on May 28 the completion of the BMG wells decommissioning programme in Australia.

“Abandonment of the final well of the BMG decommissioning programme has been successfully completed. The Helix Q7000 vessel is now off-hire and has departed from the BMG site," Cooper said.

The expected final cost of the BMG wells decommissioning programme remains toward the upper end of the mid-case estimate of A$240mn ($160mn) – 280mn. Cooper had revised the project cost higher in January this year due to delays in start-up activities.

The company said it continues to pursue its claim in the Supreme Court of Victoria against Indonesian state-owned enterprise Pertamina Hulu Energi for Pertamina’s 10% share of the BMG decommissioning costs.

Pertamina, via an Australian subsidiary, participated in the BMG oil project during its production life. Cooper’s claim arises with respect to Pertamina’s obligations under the withdrawal and abandonment provisions of the BMG oil project joint operating and production agreement.