Mixed fortunes: for Oz player Nexus
Crux put on hold
Australia’s Nexus Energy said today it had put on hold its Crux offshore liquids project for six months to better understand the reservoir, but is progressing well with the Longtom subsea gas project.
The Crux-2 appraisal well off north-west Australia is currently being sidetracked to help this process.
The well has so far not delivered the outcome expected, said Nexus, despite intersecting the Plover sandstone formation that was not detected in the Crux-1 discovery well.
“The potential of the Plover for the entire Crux area now needs to be fully assessed and mapped. This will be completed as a matter of urgency,” said Nexus.
Meanwhile, Nexus’ A$185 million to A$195 million (US$145.7 million to US$153.6 million) Longtom gas project off south-east Australia is targeting first gas production in mid-2008.
The field development calls for three subsea wells to be tied back to Santos’ Patricia/Baleen offshore gathering system and onshore gas plant.
Front-end engineering and design for Longtom is complete and tenders have been called for all equipment and services required, said the operator.
Nexus said its intention is to book 350 petajoules (330 million cubic feet) of P50 reserves at final investment decision at the end of March.