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BEACH ENERGY LIMITED

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Beach Energy : Kupe Compression completion

10/14/2021 | 12:42am EST

Beach Energy Limited (ABN 20 007 617 969) | Level 8, 80 Flinders Street Adelaide, South Australia 5000

GPO Box 175, Adelaide, South Australia 5001 | beachenergy.com.au

Media release

New compressor boosts Kupe gas output

Thursday 14 October 2021

New Zealand's gas supply has received a much-needed boost with Beach Energy switching on a new compressor, increasing gas production at the Kupe Gas Processing Facility near New Plymouth.

The delivery of the $72 million Kupe Compression Project safely and within budget means the Kupe Gas Plant, which had seen declining production in recent years, can ramp back up to its full capacity of 77 TJs per day - the equivalent of supplying 15% of New Zealand's natural gas demand.

The compressor increases production by reducing the back pressure on the wells, extending the production plateau.

While some delays were experienced due to COVID-19 supply chain issues, the project has been delivered within budget, and most importantly, with no lost time injuries from the 170,000 person- hours onsite.

Beach Energy Managing Director Matt Kay said that it is vital that New Zealand has a stable supply of natural gas to support its every-day needs.

"The successful delivery of this project is good news as it keeps more natural gas flowing into New Zealand homes and businesses for many years to come," Mr Kay said.

"I would like to say a big 'thank you' to all the Beach Energy staff and contractors who supported this project - you've done yourselves proud, particularly through your commitment to safety on the job."

Preparation work for a potential Kupe East development well within the Kupe field is expected to commence during FY22.

Beach says this could lead to the drilling of a potential development well in FY23, subject to joint venture and regulatory approvals.

For more information about Beach Energy's New Zealand operations, visit

www.beachenergy.com.au/new-zealand.

For further information contact the following on +61 8 8338 2833

Media

Chris Burford, Corporate Affairs Manager

Page 1 of 1

Disclaimer

Beach Energy Limited published this content on 14 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2021 04:41:04 UTC.


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