Triangle Energy (Global) Ltd reports that a fourth and final batch of export-bound oil has been loaded into the AB Paloma tanker, which is on its way from the Port of Geraldton to an Asian refinery.
The batch of 26,500 barrels of oil, which originates from the Cliff Head oil field – a joint venture between Triangle Energy and Pilot Energy (ASX:PGY) (TEG 78.75% and Pilot 21.25%) - added to the total of 53,000 barrels on board.
The Cliff Head joint venture (CHJV) trucked 26,500 barrels of oil from ASP to the Port of Geraldton between November 7 and 11, in a round-the-clock operation.
The AB Paloma has now departed Geraldton and is on its way to Singapore for fuel bunkering before continuing its journey to a refinery in Asia.
Viable export route
Oil production from the Cliff Head oil field, operated by the CHJV in the Perth Basin, has a proven economic export route for both the Cliff Head Oil Field and other Perth Basin producers, which allows for continued production from the Perth Basin.
Triangle Energy managing director Conrad Todd said: “This continues the exciting progress and management of the CHJV.
“The truck-to-tanker export route is now established and the CHJV is now focusing on streamlining and reducing operating expenses for this export route.
“The second tanker export run to Asia has established that we can continue exporting and selling the oil produced from the Cliff Head oil field for the foreseeable future as we progress plans on the future utilisation of the Cliff Head facilities.”
Carbon capture and storage
Triangle Energy and its joint venture partner are working to maximise production and income from the Cliff Head oil field while finalising working arrangements and JV alignment for future development plans at Cliff Head.
These plans are focused on the development of a carbon capture and storage (CCS) operation to provide carbon management services to third parties.
This is expected to significantly extend the working life of the CHJV infrastructure and facilities.