Arrow Energy proceeds with Bowen basin FEED

Arrow Energy proceeds with Bowen basin FEED

BRISBANE, Australia -- Arrow Energy is to proceed with the front-end engineering design (FEED) phase for its proposed Bowen Gas Project.

Arrow Energy CEO, Andrew Faulkner, said the decision was a critical milestone in progressing the development of the company's Bowen basin gas reserves.

"This design stage represents an important step forward for Arrow's Bowen Gas Project and I expect FEED work will take around 12 months to complete," he said

Faulkner said Arrow had been safely developing CSG from the Bowen basin since 2000 and supplying it commercially since 2004.

He said the proposed Arrow Bowen Gas Project would involve extracting gas from Arrow's petroleum tenures and represented a major expansion in CSG production volumes.

The Bowen Gas Project lies adjacent to Arrow's existing Moranbah Gas Project (MGP), one of the oldest and largest (in acreage) gas fields in Australia, which has been producing CSG for the domestic market since 2004. The MGP is a 50/50 JV with AGL.

"Today's announcement is a positive move for Arrow, for local communities and contractors," Faulkner said Sept. 8.

He said development options for Arrow's Surat basin gas reserves were being progressed, and that collaboration discussions with third parties were continuing, to identify the best option for monetizing Arrow's gas reserves in both the Surat and Bowen basins.