Hancock Energy is moving closer to a final investment decision on its AU$1.5 billion Belisama gas project in Western Australia’s Perth Basin, expecting to commit capital before the end of the year.
Once fully operational, the conventional onshore gas development is projected to supply up to 20 per cent of Western Australia’s domestic gas demand.
The project focuses on a proposed AU$850 million Central Processing Facility with a daily capacity of up to 210 terajoules, alongside field drilling and export pipeline infrastructure.
The facility will process gas from Hancock’s Perth Basin permits, which hold over one trillion cubic feet of conventional gas resources across the Lockyer, North Erregulla, and West Erregulla fields.
Belisama does not require hydraulic fracturing (fracking). The project has already secured key local approvals, including support from the Shire of Mingenew, an Environmental Protection Authority decision requiring no further assessment, and Western Australian Planning Commission development approval.
Hancock has also signed an agreement with Strike Energy to process Strike’s 50 per cent share of gas from the West Erregulla field through the Belisama facility.
The alignment targets first gas production in 2029, with Hancock set to assume operatorship of West Erregulla upon reaching a final investment decision targeted for fiscal 2028.
“Belisama, subject to approvals, is planned to be a major investment in West Australia, creating jobs and bringing much-needed new gas supply to West Australians for beyond the next decade,” said Hancock Executive Chairman Gina Rinehart.
“At full capacity, Belisama is expected to supply up to 20 per cent of WA’s domestic gas demand.”
Hancock Energy is ready to commit the significant capital and resources required to develop Belisama. However, the company pointed out that such invest requires stable government policy, including certainty around gas reservation.
“Extending the current 20 per cent export allowance beyond 2030 is crucial to underpin further exploration and investment in the high-risk gas exploration drilling and development needed for West Australians,” said Hancock CEO Garry Korte.
