Central Petroleum Limited (AU:CTP) has released an update.
Central Petroleum Limited has secured a deal to supply Power and Water Corporation with up to 8.6 Petajoules of gas by the end of 2024, marking a significant contribution to the Northern Territory’s gas market. Although the Mereenie gas field’s production is currently reduced, it’s poised to increase supply in the near future as demand from the Northern Territory grows. The company is actively seeking further customers to boost gas production from its Amadeus Basin fields, which already meet a substantial portion of the region’s gas needs.
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