New Zealand Oil & Gas Limited announced that it has executed a Gas Supply Agreement (GSA) with Arafura Nolans Project Pty Limited (Arafura). Gas supplied under the GSA will be aggregated with gas from other Mereenie field joint venturers, Central Petroleum, Macquarie Mereenie and Cue Energy Resources, to supply up to 27.4 PJ of gas to Arafura. The GSA will commence in 2026 for a 3-year term, with a further 2-year extension subject to gas reserves being available.

The GSA is for firm gas supply with take-or-pay provisions and a price that escalates with inflation. The GSA is conditional on various conditions precedent with respect to the Arafura Nolans project.