AGL Energy Ltd reported in February 2016 that it planned to sell its Queensland exploration and production assets after a strategic review had resulted in the decision that exploration and production would no longer form part of the companyâs core business.Â  AGL reported that it is looking to sell all its Queensland assets, apart from its gas storage and related Silver Springs plant infrastructure.  AGL reported that it expected the overall sale of assets to be a fairly long process, due to the market conditions. As of early 2019, AGL still had a participating interest in exploration permits ATP 1190-P and PEL 285.Â  The company also continues to hold a number of production licences: PPLs 1, 2, 4, 5 and 6 are located in the Sydney Basin and PLs 15, 46, 48, 49, 66, 192, 2020 and 213 are located in the Bowen Surat Basin.  During the sale process, on 25 August 2017, AGL reported that it had reached an agreement to sell its northern Queensland gas assets to a consortium of Shandong Order Gas Co Ltd and Orient Energy Pty Ltd.Â  AGL reported that the assets included in the deal would be the Moranbah Gas Project and North Queensland Joint Venture, in which it holds 50% interest, and 99% participation rights in ATP 1103-P.  As part of its review AGL is also relinquishing its New South Wales acreage back to the government and production in New South Wales at its Camden Gas Project will also cease earlier than previously planned.  AGL first announced that it was looking to divest some assets in July 2015.Â  This was after a comprehensive review had been carried out of its upstream gas assets. AGL reported that it would be looking to divest non-core and underperforming assets, to focus on its core gas project areas.Â  The core project areas that have been outlined will be transferred to âGroup Operationsâ as reported by AGL.Â  This is hoped to give better operational efficiency, streamline expertise and improve productivity.  AGL reported that it was looking to divest PELs 4 and 267, located in the Tamworth Trough and Sydney Basin, which form the Hunter Gas Project.Â  AGL reported that at this time this asset was not considered economic to develop. Â On 6 July 2015 both licences were subsequently surrendered.  PEL 2, which is also located in the Sydney Basin, was also to be divested, and was also surrendered on 6 July 2015. This licence contained the North Camden Area, which was due to be part of an expansion of the Camden Gas Project. Though the Camden Gas Project will continue operations, the expansion will not be going ahead.  AGL reported that it would be selling the PELs as part of the New South Walesâ (NSW) Government petroleum exploration licence buy-back scheme.
AGL Energy Ltd reported in February 2016 that it planned to sell its Queensland exploration and production assets after a strategic review had resulted in the decision that exploration and production would no longer form part of the companyâs core business.  AGL reported that it is looking to sell all its Queensland assets, apart from its gas storage and related Silver Springs plant infrastructure.