Central Petroleum Limited (Central) (ASX:CTP) is the largest operator of onshore gas production in the Northern Territory, supplying oil and gas from its Mereenie, Palm Valley and Dingo fields to domestic customers in the Northern Territory and the wider Australian east coast market.
Central aims to become a significant domestic energy supplier and is working towards a final investment decision for the development of the Range Gas Project in the heart of Queensland’s proven coal seam gas precinct – the Surat Basin.
In addition, substantial exploration and appraisal targets have been identified within Central’s 180,000 km² of tenements in Queensland and the Northern Territory. Various exploration programs are progressing to appraise these targets.
Australia’s east coast gas market is under-supplied, and Central Petroleum is set to play a key role in satisfying this demand from its portfolio of assets.
“To unlock and commercialise the vast energy potential within Central Australian basins in a sustainable and environmentally responsible manner at a critical time in Australia’s domestic energy supply”. Central aims to achieve this commercial strategy by:
- Targeting early monetisation via existing infrastructure
- Maximising utilisation of existing established infrastructure
- Focusing on lower-risk prospects with significant potential
- Developing an updated play-based exploration portfolio review (currently underway)
- Utilising farm-out arrangements to accelerate / fund higher-risk, higher-return, prospects
- Applying value adding technology – LPG, Micro refinery etc.
- We put safety first
- We respect the environment and the communities we work with
- We value our people and stakeholders
- We work hard, efficiently and effectively as a team
- We listen to and work in partnership with stakeholders
- We engage in a collaborative manner and act with integrity
- We are committed to increasing shareholder value
- We are dynamic and agile
- We are professional, resourceful and proficient
These core values aim to make Central a corporate leader and attractive partner as we strive to make a positive and long-lasting contribution to Australia’s energy future.