Pilot Energy Secures 100% Ownership of Cliff Head Assets, Boosting CCS Plans

A Strategic Acquisition Completed

Pilot Energy Limited has successfully completed the initial phase of acquiring full ownership of the Cliff Head Oil Joint Venture (CHJV) assets from Triangle Energy. This milestone consolidates Pilot’s control over all onshore assets and facilities associated with the Cliff Head Oil field in Western Australia, including the Arrowsmith Production Plant and related infrastructure. The company is now preparing to lodge an application to transfer the offshore assets, which remain under Commonwealth jurisdiction, signaling the next step in this strategic acquisition.

Unlocking Carbon Capture Potential

This acquisition is more than a simple asset transfer; it is a foundational move enabling Pilot to fully develop the Cliff Head Carbon Storage Project. By consolidating ownership, Pilot can now bring in new joint venture partners to advance this pioneering initiative, which aims to repurpose depleted oil fields for carbon capture and storage (CCS). The project aligns with broader energy transition trends and leverages existing infrastructure to support Australia’s clean energy ambitions.

International Partnerships on the Horizon

Pilot is actively negotiating with a consortium of Korean companies interested in acquiring a 60% stake in the Mid West Clean Energy Project, which includes the Cliff Head CCS initiative. Additionally, a foreign state-owned enterprise is poised to take a meaningful minority interest in the carbon storage project. These partnerships could bring significant expertise, capital, and geopolitical weight to the development, enhancing the project's prospects and scale.

Leadership Perspectives

Managing Director Brad Lingo highlighted the importance of consolidating asset ownership as a critical enabler for attracting development partners and advancing the CCS project. Chairman Greg Columbus described the acquisition as a significant milestone in transforming depleted oil assets into a world-class carbon storage facility, underscoring the company’s commitment to leveraging unique assets in a growing market for carbon management solutions.

Looking Ahead

With onshore assets now fully under Pilot’s control and offshore asset transfer imminent, the company is well positioned to accelerate project development and finalize joint venture agreements. This progress could place Pilot Energy at the forefront of Australia’s clean energy transition, particularly in carbon capture and storage technology, which is increasingly critical in global efforts to reduce emissions.