Cooper Energy has signed a two-year gas supply agreement of 1 PJ p/a with O-I, commencing 1 January 2021.
The contract is Cooper’s third gas sales agreement with O-I, who committed to the inaugural gas supply agreement for the Sole Gas Project in 2015.
Cooper Managing Director David Maxwell said the company is pleased to continue its relationship with O-I.
“It is also the first agreement for supply in 2021 from our offshore Otway operations, where we are investing to build our gas business further,” said Mr Maxwell.
Mr Maxwell added the new contract is consistent with Cooper’s gas contracting strategy.
“We have chosen to focus our business on supply agreements with utility and blue-chip industrial customers that feature the right combination of price, term and load factor to deliver stable long-term cash flow and efficient production.
“This agreement is another example and we look forward to securing additional agreements in 2020.”
The contracted volume is approximately 17 per cent of Cooper Energy’s Casino Henry 2020 gas production share.
Additionally, the two-year agreement includes an option for an additional three-year extension.
For more information visit the Cooper Energy website.
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