Cooper Energy to Develop Manta Gas Resources Offshore Victoria

Cooper Energy on Thursday said development of the Manta gas resource in Australia is technically feasible and a sound business opportunity.

The Manta gas field is located in the licences held by the BMG Joint Venture (VIC/L26, VIC/L27 and VIC/L28) in the Gippsland Basin approx. 57 km offshore Victoria in water depths of approx. 130 metres.

Cooper holds 65 percent interest and is the operator of VIC/L26, VIC/L27 and VIC/ L28 (BMG Joint Venture). Beach Energy hold the remaining 35 percent.

As per Cooper Energy BMG Business Case a subsea gas development of the Manta gas resource is the preferred option for a capital efficient, low operating cost project that can deliver gas within two years of FID.   

The Business Case is subject to joint venture partner review and endorsement.  Concurrent to this review, the BMG Joint Venture will progress planning for the potential Manta-3 appraisal well, Cooper said.    

The Business Case assessed gas resources at Manta to comprise a 2C Contingent Resource of 106PJ of sales gas and 2.6 million barrels of condensate and a further 11PJ of risked best estimate (P50) Prospective Resources.  It was concluded that these resources can be developed most economically via a 2 well subsea development with gas export to the Orbost Gas Plant. The Manta Gas Project has the potential to produce 23 PJ of gas per annum for supply to eastern Australian gas users, with additional revenue from the condensate production.