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BPH Investee Advent Makes an Appointment to Prepare Environmental Plan for Baleen-1 Target

Summary

  • BPH Energy Limited’s (ASX:BPH) investee Advent has recently appointed Xodus Group to prepare an Environmental Plan for the first submission to NOPSEMA.
  • Advent assessed proposals for Environmental Approvals for Baleen-1 gas prospect before awarding this contract.
  • Xodus Group holds a solid track record in the Australian offshore sector as well as expertise in landmark Carbon Capture Utilisation and Storage (CCUS).

BPH Energy Limited (ASX:BPH) has recently announced that its investee Advent, has appointed Xodus Group under a lump sum contract to prepare an Environmental Plan for first submission to National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA).

Advent has awarded this contract after evaluating proposals for Environmental Approvals for the Baleen-1 gas prospect.

Advent has made the appointment based on Xodus Group’s willingness to offer a staged lump sum proposal, their high quality of engagement, and recent experience by their Principal Consultant in working for NOPSEMA.

Interesting Read: BPH Energy ends Q1 2021 on a strong financial note

More About Xodus Group

Xodus Group are a leading international energy environmental consultancy, which holds a solid track record in the Australian offshore sector, where the Group are subject matter experts in environmental impact assessment as well as regulatory approvals.

In March 2021, Add Energy commissioned Xodus to undertake a preliminary environmental screening evaluation of the planned Baleen well activity. Early this year, Advent and Add Energy entered into a Preliminary Well Services Agreement to progress with the Baleen well program.

Read More at BPH Energy (ASX:BPH) Investee Advent Signs Preliminary Well Services Agreement for Baleen Well Program

Xodus Group also holds expertise in landmark Carbon Capture Utilisation and Storage (CCUS). Recently, they have advised the Dutch government on a CCUS project while delivering a review into tariffs for a landmark (CCUS) project in the Netherlands.

Interestingly, Advent is also proposing with its JV partner Bounty Oil & Gas NL (ASX:BUY) to use the Baleen well program to investigate the potential for CCS (Carbon Capture and Storage) in the PEP11 permit. Last year, Advent also appointed well-known scientist Professor Peter Cook as an advisor on geosequestration for the PEP11 project in the Offshore Sydney Basin.

Also Read: BPH Energy (ASX:BPH) Investee Advent Appoints Prominent Australian Scientist for PEP11 Project

Significance of PEP11 Permit

Advent’s PEP11 permit is located in the Offshore Sydney Basin, which is a proven hydrocarbon basin with excellent potential for further discovery of natural gas/significant multi-Tcf natural gas resources. The PEP11 covers 4,649 km2 of area on the doorstep of Sydney-Newcastle & extensive gas infrastructure within less than 50km.

Notably, the offshore Sydney Basin encompasses all the elements seen in other world-class producing petroleum basins, comprising Prospective Resources of 5.7 Tcf (P50) in structural targets. The gas market dynamics and possible gas supply shortages sprouting on the east coast of Australia have bolstered Advent’s interest in the PEP11 project.

The PEP11 permit’s potential is evident from the significant and complimentary hydrocarbon & migration features observed in prior studies. Besides, a report from Geoscience Australia has also confirmed the presence of natural gas features in the Offshore Sydney Basin.

Must Read: Government report lifts BPH Investee Advent’s confidence in PEP11 project

BPH Energy shares are trading at AUD 0.097 as of 11:45 AM AEST.

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