| Beach Petroleum in deal with US firm |
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November 19, 2009 Beach Petroleum Ltd has entered into a non-binding deal with a US-based synthetic fuels technology company with a view to joint development and commercialisation of Beach's large gas resources in South Australia. Beach said in a statement on Thursday it had entered into a memorandum of understanding with Rentech Inc to see if the parties can collaboratively work on Beach's unconventional gas and petroleum liquids resources in the Cooper Basin. "Beach and Rentech intend to work together to ascertain whether it may be feasible to use the Rentech Process... to commercialise Beach's unconventional gas acreage," the oil and gas producer said. Rentech's biomass gasification process can convert multiple biomass feedstocks into synthesis gas for production of synthetic fuels and chemicals. The proposed partnership could lead to the establishment of a facility that may produce commodities such as transport fuels, including jet fuels, and specialty chemicals. Such a facility could also separately produce fertiliser and other commodities. Shares in Beach were half a cent lower at 83 cents at 1209 AEDT. (From The Sydney Morning Herald) |
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