In order to recover the remaining reserves on the Vale field, Spirit Energy has applied for consent to extend the life of the field. We have now granted consent for a life extension to 11 June 2023.
The consent has been given on the basis of Spirit Energy’s documentation of assessments which conclude that the facilities can continue to be operated safely and in accordance with the regulations.
What is a life extension?
New technology, new operating methodologies and measures that allow more oil and gas to be recovered than originally planned mean that the licensees often wish to continue using the old facilities even after they have reached their age limit.
In many cases, using the old facilities beyond their design life will make socio-economic sense. However, it is not acceptable for life extensions for ageing facilities to compromise safety.