Reserves upgrade underpins Fisherman’s Landing
ARROW Energy says it has enough reserves to underpin the 1.5 million tonne per annum Fisherman’s Landing LNG project in Queensland after independent certifiers substantially upgraded the size of its coal seam gas reserves.
Its 3P (proved, probable and possible) reserves increased 47% to 5412PJ.
Arrow said its gross uncontracted 2P reserves stood at 3320PJ, more than double what was required to underpin the Fisherman’s Landing LNG project.
Chief executive officer Nick Davies said the upgrade followed a similar announcement made six months ago and was a testament to the quality of the company’s acreage.
“Our previously stated goal was to add approximately 1tcf [trillion cubic feet] of gross 2P reserves each year through an intensive and continuous reserves certification program,” he said.
“To have exceeded our 2009 full year goal in the first six months of the year is an outstanding achievement by our team.”
The company is currently carrying out further reserves certification work that should allow it to target another reserves upgrade for the second half of the year.
Final investment decision for the Fisherman’s Landing LNG project is expected by the end of the first quarter of 2010.
Friday, 31 July 2009
PNN
Queensland opens up CSG groundwater data
