CTP 3.45% 14.0¢ central petroleum limited

Dingo

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    Dingo Gas Pipeline running on schedule

    Mon, 2 February 2015
    Central Petroleum’s Dingo development remains on time and under budget, with sales from the Dingo field able to commence in the 2nd Quarter.
    The 50 km (40 km composite; 10 km steel) pipeline runs from the Dingo Gas Field to Brewer Estate in Alice Springs.
    The progress on pipeline represents a major step forward for Central Petroleum in becoming a major player in the Northern Territory (NT) gas market.
    With the NT to East Coast interconnect project steadily gathering momentum, Central expects the Dingo Pipeline to play an important role in the supply and connection of Central Australia to the eastern seaboard gas network.
    The Dingo Gas Field Development, funded under a $30 million tranche of the loan facility agreement with Macquarie Bank, will see the construction of wellhead facilities, gathering pipelines, gas conditioning facilities, compression and custody transfer metering facilities, and is designed to service a gas sale contract with Power and Water Corporation of the NT.
    First gas sales to Power and Water Corporation in Alice Springs are expected to commence in the first half of 2015.
 
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