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Mahalo Gas Project Receives Petroleum Lease Approvals

Source: 7/7/2020, Location: Not categorized

Comet Ridge Limited has announced that the Mahalo Gas Project (MGP) has been granted Queensland State Government Petroleum Leases (PLs) 1082 ('Humboldt') and 1083 ('Mahalo'). These have been issued for a term of 30 years.

The MGP is located inside the northern part of the ATP 1191 area (see map). This project is held 40% by Comet Ridge, 30% by Santos and 30% by APLNG (where Origin Energy is the development Operator).

These Petroleum Lease awards are the final regulatory approval required for the project to move forward to production and follows the Commonwealth Government Environment Protection and Biodiversity Conservation Act (EPBC) approval in May and the Queensland Department of Environment and Science environmental approval in June.

Comet Ridge Chairman, James McKay said Comet Ridge and its partners have undertaken many years of exploration, appraisal and development planning activities to prove up Mahalo as a valuable development-ready gas project and he was very pleased the project now has full regulatory approval to be able to realise full value for the asset.

He added: 'The Mahalo GasProject is well positioned to deliver meaningful gas production into the domestic and export market as part of an emerging greater Mahalo fairway. The streamlined approval process shows it has the support of the Queensland government and we look forward to working with our joint venture partners in progressing Mahalo towards a Final Investment Decision'.

Work is also continuing at Comet Ridge’s 100% owned Mahalo North project including seismic interpretation to optimise drilling locations, so that Mahalo North is development ready and can be quickly tied into either the Mahalo Gas Project or other nearby gas processing and pipeline facilities.

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