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Project Atlas, Australia

10th May 2019

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

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Name of the Project
Project Atlas.

Location
The project is located south-east of Wandoan, in Queensland’s Surat basin, in Australia.

Project Owner/s
Senex Energy.

Project Description
Project Atlas is a top-tier resource that is expected to produce material volumes of gas for the Australian market. The primary objective of the development programme is to reach plateau production of 32 TJ/d, or about two-million barrels of oil equivalent a day, with an additional 8 TJ/d of installed redundant capacity available.

Maintenance wells will then be drilled on an ongoing basis to sustain plateau production.

Infrastructure operator Jemena plans to partner with Senex Energy on the accelerated development of the project. Under the agreement, Jemena will build, own and operate a gas processing facility with an initial capacity of 40 TJ/d and a 60 km pipeline to process and transport gas from Project Atlas through the Darling Downs pipeline to the Wallumbilla hub.

Potential Job Creation
The project is expected to create 100 jobs over the life of the project.

Capital Expenditure
A capital spend of A$220-million to A$250-million was approved in October 2018.

Planned Start/End Date
Delivery of first gas to the domestic market is scheduled for late 2019.

Latest Developments
Senex Energy has signed another offtake agreement at its Project Atlas development.

Under an initial two-year agreement signed with packaging manufacturer Orora, Senex will supply 1.1 PJ of natural gas, starting in January 2020, and 2.2 PJ starting in January 2021.

The companies have also agreed on a mechanism that could extend the term of the agreement by six years, starting in January 2022, for up to 6.6 PJ of gas.

The gas will be supplied at the Wallumbilla gas hub, in Queensland, at a fixed price in line with the current market levels, indexed yearly.

Senex MD and CEO Ian Davies has said that with two gas sales agreements now secured for Project Atlas, and drilling set to start later this month, Senex is accelerating towards first gas from Project Atlas by the end of this year.

Key Contracts and Suppliers
Jemena (construction contract).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Senex Energy investor relations head Tess Palmer, tel +61 7 3335 9719.

Edited by Creamer Media Reporter

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