Enterprise is a conventional gas development located in shallow water in Australia and is operated by Beach Energy. Discovered in 2020, Enterprise lies in block VIC/P 42 (V), with water depth of around 95 feet.

The project is currently in feasibility stage and is expected to start commercial production in 2024. Final investment decision (FID) of the project will be approved in 2022. The development cost is expected to be $51 m.

Field participation details

The field is owned by O.G. Energy Holdings and Beach Energy.


Production from Enterprise

Production from the Enterprise conventional gas development project is expected to begin in 2024 and is forecast to peak in 2025, to approximately 1,575 bpd of crude oil and condensate, 63 Mmcfd of natural gas and 1,071 bpd of natural gas liquids. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2037.


Remaining recoverable reserves

The field is expected to recover 34.62 Mmboe, comprised of 4.15 Mmbbl of crude oil & condensate, 165.91 bcf of natural gas reserves and 2.82 Mmbbl of natural gas liquid reserves.


About Beach Energy

Beach Energy Ltd (Beach) is an independent upstream oil and gas company. It carries out the exploration, development, production, processing and transportation of crude oil and natural gas. Beach’s asset portfolio includes ownership interests in oil and gas infrastructure, including the Moomba processing facility and Otway Gas plant and a suite of high potential exploration prospects. The company’s producing assets include Cooper, offshore Otway and Bass basins. It also has permits in the onshore Otway, Bonaparte, Browse, Taranaki and the Canterbury basins. Beach is headquartered in Adelaide, South Australia, Australia.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.