oil giants interested in $2bn cb hub

Oil giants interested in $2bn hub, Business Spectator 15/02/14

Cooper Basin logistics hub draws attention of Halliburton, Schlumberger: report.

A $2 billion plan to build an oil and gas logistics hub for South Australia’s Cooper Basin has drawn interest from global oil and infrastructure firms Halliburton, Schlumberger and The Weir Group, according to The Australian Financial Review.

Adelaide Capital Partners has held talks with the global giants in relation to a 407-hectare area of land in an outer Adelaide suburb as it attempts to shore up financing for the plan.

“The reality is that governments don’t have the money to do it,” former Santos chair Stephen Gerlach, a part of the Adelaide Capital Partners consortium, told the AFR. “It needs private sector investors to stand up and be counted.”

Mr Gerlach, who just wrapped up a roadshow in the United States touting the proposal, said the project needed as much as $200 million from outside sources.