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Senex to boost Roma North production with $20m spend

Business

Surat Basin gas producer Senex Energy will spend $20 million to expand its Roma North project by 50 per cent while Jemena will develop the infrastructure to get the gas to market.

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About 50 jobs will be created by the project which will include 15 new wells. The total cost of the expansion will be about $30 million.

Senex said the expansion would mean the field would produce 24 terajoules a day and was expected to be online by the first quarter of 2022.

Senex said the there was also a 15-year gas sales agreement with GLNG for additional volumes at oil-linked gas prices.

The company also released its quarterly production results showing Surat Basin gas output was up 22 per cent. Daily production is now 44 terajoules.

Capital expenditure for the quarter was down 77 per cent to $7.9 million as its Surat Basin development ended.

Managing director Ian Davies said Senex had started the financial year with strong momentum and new investments.

He said the Roma North decision was a low cost, high return, long life investment.

During the quarter, Senex was also granted new acreage at the Atlas field in the Surat and planning was under way there to increase production by 50 per cent.

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