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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. 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
$m

2018
$m

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.

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