? Cooper Energy Limited (“Cooper Energy”, or the Company) is pleased to announce the completion of
the BMG wells decommissioning programme.
? Final well abandonment completed and Helix Q7000 demobilised
? Pertamina judicial proceedings continue
Abandonment of the final well of the BMG decommissioning programme has been successfully completed. The
Helix Q7000 vessel is now off-hire and has departed from the BMG site.
The BMG wells decommissioning programme incurred more than 360,000 man-hours with no lost time injuries and
no significant environmental incidents. The success of this decommissioning project highlights the Company’s
commitment to health, safety and environment, and strong engineering capability.
The expected final cost of the BMG wells decommissioning programme remains toward the upper end of the mid
case estimate of A$240 - 280 million.
The Company continues to pursue its claim in the Supreme Court of Victoria against Indonesian state-owned
enterprise PT Pertamina Hulu Energi (“Pertamina”), for Pertamina’s 10% share of the BMG decommissioning costs.
Managing Director and CEO Jane Norman commented:
“Completing the BMG wells decommissioning programme is a significant milestone for the Company, and I’m
pleased that our team has delivered this technically challenging project without incident. With this work now
behind us, we are focused on growth in the Otway Basin, to backfill the Athena Gas Plant, alongside further
performance improvements at Orbost.”
