AWE Limited
(ASX:AWE) and Origin Energy have achieved the final investment decision for stage 1a at the Waitsia gas field development project, located in the onshore Perth Basin, Western Australia.
Stage 1a will see the Waitsia-1 and Senecio-3 gas wells connected to the refurbished Xyris Production Facility.
Engineering, execution and management costs for stage 1a of the Waitsia gas project are expected at gross $17.5 million.
AWE’s Managing Director and CEO Bruce Clement said first stage production from Waitsia will provide early cashflow from mid-2016.
AWE reported a net loss of $230.2 million at 30 June 2015.
