30. Joint operations
Joint operation | Principal activities | Interest | |
|---|---|---|---|
2019 | 2018 | ||
Bowen Basin - Queensland | |||
Moranbah Gas Project - PL 191, PL 196, PL 222, PL 223 & PL 224 | Gas production and exploration | 50 | 50 |
Spring Gully Project - ATP 592P, PL 195, PL 203 & PL 417 | Gas production and exploration | 0.75 | 0.75 |
Spring Gully Project - PL 204 | Gas production | 0.0375 | 0.0375 |
Surat Basin - Queensland | |||
ATP 1190 (Bainbilla Block) | Oil and gas exploration | 75.252 | 75.252 |
ATP 1190 (Spring Grove #2 sole risk) | Oil and gas exploration | 52.752 | 52.752 |
ATP 1190 (Weribone) | Oil and gas exploration | 28.71 | 28.71 |
PL 1 (Cabawin) | Oil production | 23.08 | 23.08 |
PL 15 | Gas production | 75 | 75 |
PL 30 (Riverslea) | Oil production | 10 | 10 |
PL 74 (Major) | Oil production | 16 | 16 |
Others | |||
North Queensland Energy Joint Venture | Sale of gas and electricity | 50 | 50 |
Lytton Joint Venture1 | Crude oil storage terminal | - | 33.333 |
- 1 AGL divested its interest in the Lytton Joint Venture in April 2019. A loss of $2m was recognised on disposal of the assets and liabilities.
AGL’s interest in assets employed in the above joint operations is detailed below. The amounts are included in the consolidated financial statements under their respective asset categories.
2019 | 2018 | ||
|---|---|---|---|
Current assets | |||
Cash and cash equivalents | 2 | 3 | |
Trade and other receivables | 3 | 3 | |
Total current assets | 5 | 6 | |
Total non-current assets | - | - | |
Total assets | 5 | 6 |
AGL’s share of capital expenditure commitments and contingent liabilities of joint operations are disclosed in Notes 24 and 25 respectively.
ACCOUNTING POLICY
Joint operations
AGL has joint operations where the entity has joint control and direct rights to the assets, liabilities, revenues and expenses. This share has been recognised in accordance with the accounting standards applicable to the particular assets, liabilities, revenues and expenses.