ASX AND MEDIA ANNOUNCEMENT
10 June
2008
AVIVA AND ARC ENERGY PARTNER IN MID WEST SEQUESTRATION
STUDY
Aviva
Corporation (ASX:AVA) and ARC Energy (ASX:ARQ) have agreed to a
partnership to study the potential for sequestration of carbon dioxide in
depleted oil and gas reservoirs in the North Perth Basin.
As a
first step, ARC Energy will join the existing study commissioned by Aviva and
being conducted by CO2CRC Technologies, which is investigating sequestration
sites for future emissions from Aviva?s planned 400MW Coolimba Power Project in
the Mid West region.
Aviva?s
Chief Executive Officer Lindsay Reed
welcomed the participation of ARC Energy in the milestone study. He said ARC
Energy?s experience in, and knowledge of, oil and gas reservoirs in the Mid
West region of Western Australia
would significantly enhance the study.
The
CO2CRC is one of the world's leading collaborative research organisations
focused on carbon dioxide capture and geological storage (geosequestration).
?The North
Perth Basin
offers potentially the most promising sites in WA, if not Australia,
for sequestration of carbon dioxide, and this study puts WA at the forefront of
tackling greenhouse gas emissions from power stations and other industrial
projects,? Mr Reed said.
Aviva is
currently developing the Coolimba Power Project, a $1 billion investment based
on a 400MW coal fired power station 20km south of Eneabba, which will be key to
unlocking the considerable economic potential of the Mid West region by
powering local development.
?Coolimba
will establish Eneabba as an energy hub in the Mid West, balancing Collie in
the State?s south and Kwinana in the metropolitan area,? Mr Reed said.
?But the
other exciting thing about this project is the opportunity for it to become Australia?s
first and largest commercial ?carbon capture? project, through sequestering and
storing its future carbon dioxide emissions.?
ARC
Energy?s Executive Director-Operations, Gary Jeffery expressed ARC?s eagerness
to extract practical outcomes from the relationship with Aviva.
?There
are many opportunities for both companies to gain from working together as
neighbours and partners,? Mr Jeffery said.
In
particular, the geosequestration studies will also examine the use of carbon
dioxide to enhance hydrocarbon recoveries from ARC Energy?s mature oil and gas
fields.
For further information
contact:
Richard
Harris
Gary Jeffery
Aviva
ARC Energy
Limited
General
Manager
Development
Executive Director - Operations
Tel:
+61 (0) 8 9367
2344
Tel: +61 (0) 8 9480 1300
Issued by:
Amanda
Reid
Purple Communications
Tel:
+61 (0) 8 9485 1254 Mob: 0424 839 062
ABOUT
AVIVA
Aviva is listed
on the Australian Stock Exchange and the Botswana Stock Exchange with its head
office in Perth.
The company is growing a portfolio of energy assets. Aviva?s most advanced
asset is the Coolimba Power Project in Western
Australia.
Aviva is earning
a 90% interest in the Mmamantswe project in Botswana,
where it is has outlined a 1.3 billion tonne coal resource. The project is well
positioned, being on the South African border and adjacent to key
infrastructure including, highway, railway, and high voltage transmission
lines.
ABOUT
COOLIMBA
The Coolimba
Power Project is based on based on a 400MW base load power station near
Eneabba, in the Mid West region of WA. The project is ideally located in the
northern half of the SWIS power grid to take advantage of demand growth both in
the SWIS and from new resource projects in the Mid West Region. The location
has the advantage of low cost fuel, available water, adjacent infrastructure,
existing mining lease and freehold land. Coolimba
Power will also
incorporate the latest carbon capture technology. The project name is derived
from the coastal region west of Eneabba, which is known as the Coolimba coast.
Coolimba is an Aboriginal word which is said to mean ?place by water?.
Please visit: www.avivacorp.com.au and www.coolimbapower.com.au
ABOUT
ARC ENERGY
ARC Energy is one of Australia?s
pre-eminent energy companies. The company has a substantial and focused
Australian oil and gas exploration and production portfolio, increasing
international operations and a proven track record of exploration and
commercialisation success. The company?s aggressive growth strategy is focused
on developing its local assets while pursuing corporate growth opportunities.
Please visit: www.arcenergy.com.au
***