West Perth-based petroleum explorer ARC Energy Ltd has received a $40 million prepayment from Alcoa Australia after signing a gas sales agreement for the delivery of up to 500 petajoules of gas from future discoveries, the company has announced.

West Perth-based petroleum explorer ARC Energy Ltd has received a $40 million prepayment from Alcoa Australia after signing a gas sales agreement for the delivery of up to 500 petajoules of gas from future discoveries, the company has announced.