Senex Energy Limited has made a Final Investment Decision (FID) for the expansion of natural gas production at Roma North by 50 per cent to 24 terajoules (TJ) per day (approximately 9 petajoules (PJ) per year), expected to be online in Q1 FY22.
Roma North, part of Senex’s Western Surat Gas Project, is located approximately 30 kilometres north of Roma in Queensland.
Senex Managing Director and CEO, Ian Davies, said the investment follows strong project execution and natural gas production performance at Roma North, with reservoir performance and well availability continuing to excel.
“The Roma North expansion [represents] our first investment to accelerate development of Senex’s significant Surat Basin natural gas reserves,” Mr Davies said.
“Senex is committed to contributing to Australia’s gas-fired recovery from the COVID-19 recession,” he commented.
Under the terms of the Roma North agreement, Jemena will procure and install two additional compression units to take capacity to 24 TJ/day (approximately 9 PJ/year), having already placed orders for all long-lead items.
Commissioning of the facility is expected in Q1 FY22.
Senex will drill up to 15 additional natural gas wells commencing in late FY21, install gas and water gathering systems and expand the existing Senex-owned Roma North water infrastructure.
Natural gas production from the Roma North expansion will continue to be delivered to GLNG under the existing 15-year gas sales agreement (GSA).
The GSA provides Senex with oil-linked gas prices, significant down-side protection at low oil prices and exposure to a future recovery in oil prices.
As at 30 June 2020, Roma North had booked Proved and Probable (2P) gas reserves of 283 PJ, with an additional 222 PJ of 2P gas reserves booked in the broader Western Surat acreage.
