In February 2016, AGL announced the strategic decision that exploration and production of natural gas assets will no longer be a core business for the company due to the volatility of commodity prices and long development lead times.
AGL will not proceed with the Gloucester Gas Project and will cease production at the Camden Gas Project in South West Sydney in 2023, twelve years earlier than previously proposed.
ASX Release: 4 February 2016
AGL will commence an extensive decommissioning and rehabilitation program for its well sites and other infrastructure in the Gloucester region. The Camden site and wells will be progressively decommissioned and the sites rehabilitated.
Fact Sheet: Gas Well Rehabilitation