AWE Limited
(ASX:AWE) has announced its joint venture with Origin Energy, the Waitsia gas project, is on track to deliver a Final Investment Decision (FID) in late 2017.
The JV has now approved the 2017 development activities budget, which includes drilling the final two appraisal wells required for stage 2 of the project, located in WA’s onshore Perth Basin.
AWE has confirmed a tender process for gas sales for stage 2 have commenced with bids already received.
CEO David Biggs has indicated the second stage of the Waitsia project could supply 10 percent of WA’s domestic gas demand.
AWE Limited reported a net loss of $363 million at 30 June 2016.
