The explorer has executed a formal grant deed under the state’s Gas Grant Initiative, an incentive program designed to bolster domestic energy security and drive new supplies into the market before the end of 2028.

Under the terms of the deed, the state government will advance 25 per cent of the grant monies immediately.

The cornerstone funding will be used to bankroll crucial geoscience and engineering studies. This work targets the construction of a new production pipeline to connect the liquids-rich Kiwi field directly into the existing Cooper Basin gas-gathering infrastructure.

Bass Oil is aiming to tap an estimated 2C contingent resource of more than one million barrels of oil equivalent (BOE) at Kiwi.

The company hopes the development will prove up an entirely new Triassic gas exploration fairway in the state’s north.

During an extensive production test in late 2024, the Kiwi 1 well clocked commercial flow rates of 4.1 million cubic feet of gas and 988 barrels of condensate per day, a result that was capped only by the limits of onsite storage.

Bass Oil Managing Director Tino Guglielmo praised South Australia as one of the nation’s most supportive energy jurisdictions.

“Bass’ Kiwi gas project is a valuable hydrocarbon resource, a significant first step to potentially opening a new liquids rich Triassic gas play in the northern Cooper Basin,” Guglielmo said.

“Not only does this grant validate the significance of this project, but also the Triassic play in the context of expanding gas resources in the Cooper Basin at a time of upheaval in the global energy markets.”

The junior explorer is moving rapidly to progress remaining project financing options, including potential farm-in opportunities with joint venture partners.

Bass has already commenced front-end engineering Design (FEED) studies, aiming to reach a final investment decision (FID) by late 2026.