New Gas Supply Agreement – Amadeus Assets

Posted on 29 November 2021

New Zealand Oil & Gas is pleased to confirm it has entered a new gas supply agreement for supply of gas to Northern Territory’s Power and Water Corporation via a back-to-back agreement with Macquarie Mereenie Pty Limited.

The agreement will commercialise a portion of the increased production made available by the recent Mereenie development campaign, which saw two new production wells drilled and four existing wells recompleted. It will extend the period of production under contract.

New Zealand Oil & Gas’s gas will be aggregated with gas from Macquarie Mereenie, Cue Energy and Central Petroleum to supply a total of 12.6 PJ over 4 years, commencing 1 January 2022.

Andrew Jefferies commented “this is a great outcome, with the new agreement selling uncontracted gas at a price consistent with our expectations when buying the assets”.