Arrow Energy CEO Zhengxin Peng has announced the signing of a significant, multi-year contract valued at nearly $100 million with Silver City Drilling on LinkedIn. This partnership will deliver hundreds of new wells as part of Arrow Energy’s ongoing Surat Gas Project, marking another milestone in the company’s commitment to advancing energy production in the region.
Silver City Drilling, an Australian company with extensive experience and strong ties to the Surat Basin, has been selected for the project. The contract is expected to generate up to 12 local jobs and contribute more than $1.5 million annually to the region’s economy, providing a welcome boost to local communities.
Zhengxin Peng shaking hands with Viv Oldfield
Since the Surat Gas Project commenced in late 2020, Arrow Energy has brought over 275 wells online, increasing gas production to an impressive 250 terajoules per day – enough to power approximately 1.7 million homes daily. The new agreement with Silver City Drilling will enable the development of an additional 450 wells in the coming years, including 250 wells as part of the Surat Gas Project North expansion northeast of Miles.
Zhengxin Peng expressed enthusiasm for the collaboration, stating, “I look forward to working with Viv Oldfield and the team at Silver City Drilling to progress this exciting next phase of our Surat Gas Project.”
This development reflects Arrow Energy’s continued commitment to driving local economic growth while supporting Australia’s energy needs.
For more information visit www.arrowenergy.com.au
