Blue: ATP 814P initial development plan and production licence application lodged By Martin Kovacs, 13 Jun 2017

Blue Energy has advised that an initial development plan and production licence application has been lodged by its subsidiary Eureka Petroleum with the Queensland government for the development of gas reserves in the Sapphire Block of its 100%-owned ATP 814P in the Bowen Basin.

“Cooperation amongst gas buyers on the east coast to aggregate meaningful medium and long-term demand volumes will encourage explorers and small producers to seek risk capital to restart the exploration and production machinery and meet the challenges of supplying gas users in an increasingly competitive gas supply (and price) environment,” Blue Managing Director John Phillips commented.

“Government must ensure these projects are progressed with priority and without delay to ensure local industries are provided with gas in a timely manner and that jobs are not only preserved but also created.”

Phillips stated that with construction of a pipeline link between Moranbah and Gladstone Blue’s reserves could be expanded from its contingent resource base of 3,000 PJ.

“More reserves can then be developed to meet the medium-term gas shortfalls in both the Queensland and broader east coast gas markets and help alleviate the longer-term gas shortages being anticipated for Sydney, Melbourne and Adelaide over the next decade,” he commented.