Sunshine Gas Lacerta FEED study
Posted: 19 March 2008
Sunshine Gas Limited has started the Front End Engineering and Design (FEED) for development of the company's Lacerta Coal Seam Gas (CSG) field located north of Roma.
A consortium consisting of GHD and Delco Australia Pty Ltd has been selected to undertake the FEED study.
Subject to a satisfactory outcome and all necessary regulatory approvals, GHD and Delco will then be instructed to proceed with full material procurement and construction of the Lacerta gas plant.
Managing Director Tony Gilby said the recent capital raising had enabled Sunshine Gas to quickly advance plans to have Lacerta into production and meet domestic demand while progressing its export Liquefied Natural Gas (LNG) strategy.
"We are pleased to have been able to appoint these two highly-credentialed firms to undertake the FEED study and if all goes to plan, we expect to have the field in production and generating cash for the company in second quarter next year," Gilby said.
Phase I of Lacerta’s field development includes the construction of a 30Pj/a gas processing and dehydration plant, 8Pj/a compression capacity and the establishment of a further 40 production wells at an estimated total cost of $67 million.
Additional compression units will be built into the plant as the field output grows.
Funding has been secured for Phase I development through a combination of the recent $44 million capital raising and proceeds from the sale of the company’s offshore UK oil assets which increased available cash to almost $90 million.
On completion of Phase II involving another major drilling campaign, the Lacerta Gas Field will ultimately supply feed gas to the proposed Sunshine/Sojitz LNG project in Gladstone.
Posted by Richard Price, Editor, EnergyME.com
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