Altona are looking to do it SA. May be a very long term plan, but why couldn't this be considered for CTP's coal?
$40m feasibility study for CNOOC and Altona Energy's billion-dollar coal project
Valerina Changarathil From: The Advertiser October 05, 2010 6:03pm
A feasibility study into Altona Energy's $3.2 billion power project in the state's north will be started before the end of the year.
Yesterday, joint venture partners Altona Energy and China National Offshore Oil Corporation announced details of a $40 million bankable feasibility study on the Arckaringa project.
The company will pursue coal-to-liquid and coal-to-synthetic gas technology for fuel production and low-cost power production.
CNOOC, through its subsidiary New Energy Investment, will fund the study over two stages.
The first stage is likely to last 12 months and has a budget of $12 million, after which the second stage will begin.
The approved work program will include a review of coal deposit geology and open-cut coal mining options, consideration of supplemental drilling, groundwater investigation and verification and environmental studies.
Altona chairman Chris Lambert said: "The decisions of the JV parties and the agreement of the budget and work program will enable CNOOC-NEIA to lead the Arckaringa project forward.
"We are now moving from a conceptual and planning phase into the exciting detailed evaluation and execution phase."
The project is likely to create 1500 jobs and contains an estimated 7.8 billion tonnes of coal.
