PERTH (miningweekly.com) – Oil and gas major Origin Energy reported 47% year-on-year and an 8% quarter-on-quarter production increases during the three months to December 31, helped by strong production from the Australian Pacific liquefied natural gas (APLNG) and its Otway basin projects.
Quarterly production increased to 80.1 PJe, driving revenue up by 157% on the previous corresponding period and by 27% on the September quarter, to A$544.3-million.
“We are pleased to see recent investment in the APLNG and the Otway basin driving strong increases in production and revenue,” Origin CEO for integrated gas, David Baldwin, said on Tuesday.
“APLNG was a major driver of the growth in revenue for the quarter, with the first cargo from Train 2 produced in early October, and ramp-up continuing in advance of the 90-day two train operational test.”
The APLNG project loaded and shipped a total of 26 cargoes during the quarter, and has shipped 82 cargoes to date.
Origin also had its first full quarter of production from the Halladale/Speculant project, in the Otway basin, offshore Victoria.
In the year-to-date, Origin produced 154.3 PJe, compared with the 102.2 PJe produced in the previous corresponding period, with sales up by 59% in the same period, from 100.8 PJe to 160.7 PJe.
Revenues for the half-year have increased by 123%, to A$973.9-million.