Mereenie Helium Recovery Unit Mou

Posted on 30 August 2023

New Zealand Oil & Gas and its Mereenie Joint Venture Partners (the Mereenie JV) have entered into a Memorandum of Understanding (MOU) with Twin Bridges LLC (Twin Bridges), a private US company who specialises in helium appraisal and production, to progress a helium recovery unit (HRU) project at the Mereenie field in the Northern Territory towards a final investment decision (FID). Central Petroleum Limited (Central) is the field Operator and has issued a release which contains the key points regarding the MOU.

New Zealand Oil & Gas CEO Andrew Jefferies says “This initiative demonstrates the Joint Venture’s commitment to finding value from our assets. Helium is a valuable global commodity in short supply, facilitating all sorts of processes from knee MRI’s to deep ocean exploration, rocket science to party balloons. I look forward to keeping the market informed as the project develops.”

Central’s release is attached.

New Zealand Oil & Gas has a 17.5% participating interest, Cue Energy Resources has a 7.5% participating interest (New Zealand Oil & Gas owns 50.04% of Cue), Macquarie Mereenie holds a 50% participating interest and Central (Operator) holds a 25% participating interest in the Mereenie licence.