Crux joint venture a step closer

An Australian flag is seen on the forehead of a woman during Anzac (Australian and New Zealand Army Corps) day parade in central Sydney April 25, 2008. Thousand of Australians around the nation gathered at Anzac day dawn services and marches to commemorate those who have lost their lives in war. REUTERS/Daniel Munoz (AUSTRALIA)

Pushing ahead: a joint venture between Shell, Nexus and Osaka Gas to commercialise the Crux discovery, off Australia, with the main documentation for the agreement being finalised

REUTERS/DANIEL MUNOZ

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Josh Lewis

 04 July 2012 03:12 GMT

Nexus signed a heads of agreement with Shell and Osaka Gas in January to exclusively pursue a Shell-led integrated gas and liquids development to commercialise Crux.

The timing for the completion of the documentation was extended in May to allow the joint venture to explore additional development options for AC/L9, which contains the Crux discovery as well as the Auriga and Caelum prospects.

Nexus said the potential development options currently under consideration include a tie-in to the Prelude floating liquefied natural gas vessel; a standalone FLNG project or an integrated gas recycling scheme.

It added an application to convert the AC/L9 production licence to a retention lease would be submitted once all members of the joint venture had executed…

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