The collapse in oil prices is helping rather than hindering Cooper Energy's ambitions to develop a $1 billion gas project off Victoria's coast, according to chief executive David Maxwell, who says the venture is attracting plenty of interest from potential customers, partners and financiers.

Mr Maxwell said with east coast gas prices still firmly on the way up and softening costs in the service sector, the Sole gas project and was among the most competitive sources of supply of gas for the south-eastern states and offered returns "well into double digits".