(Updates with background details and CEO comments in paragraphs 3-4)
April 8 (Reuters) - Australia's Beach Energy (BPT) said on Monday it expects the first gas production from its Waitsia Stage 2 gas project in early 2025, instead of mid-2024, due to further quality issues.
The oil and gas explorer also raised its total capital expenditure estimate for the project to between A$600 million ($394 million) and A$650 million, from an earlier estimate of A$400 million to A$450 million.
"Having to redirect existing onsite labour to remedial works is slowing the progress of pre-commissioning activities, resulting in further delay and cost increases," said Managing Director and CEO Brett Woods.
The gas project, a joint venture with a unit of Japanese firm Mitsui & Co 8031.T , was initially due to start producing gas for export through the North West Shelf liquefied natural gas (LNG) plant in late 2023, Beach said in May last year.
($1 = 1.5223 Australian dollars)
News: BPT UPDATE 1-Beach Energy delays Waitsia Stage 2 gas production, hikes project cost
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