Senex to buy two gas fields from APLNG for A$80mn
Senex Energy has entered into a binding agreement with Australia Pacific LNG (APLNG) to acquire two undeveloped gas fields, PL 209 and PL 445, in Queensland for A$80mn ($59mn), it said on November 8. These fields are adjacent to Senex’s Atlas natural gas development.
In August this year, Senex announced the final investment decision for the expansion of Atlas gas production by 50% to 18 petajoules/year. This acquisition will allow the further expansion of Atlas to plateau production of 30 petajoules/yr in 2024, it said. CEO Ian Davies said the acquisition increased the quality and scale of Senex’s natural gas supply portfolio.
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“The acquisition of these undeveloped gas fields adjacent to Atlas continues Senex’s growth trajectory in the Surat basin and reinforces the company’s low-cost, hub-and-spoke infrastructure operating model,” Davis said.
APLNG, a joint venture comprising Origin, ConocoPhillips and China's Sinopec, is Australia’s largest producer of coalbed methane (CBM) and supplies gas to Queensland’s domestic gas market, while also processing CBM into LNG for exports. Origin recently signed an agreement with global energy investor EIG to sell a 10% stake in the project.