Origin Energy Limited (Origin) today announced it had increased to 70 per cent its share in the Beetaloo Joint Venture* after acquiring Sasol Petroleum Australia Limited’s (Sasol) 35 per cent share.
Origin CEO, Frank Calabria said, “Having recently announced the discovery of a material shale gas resource in the Beetaloo Basin, Origin has seized the opportunity to increase its interest in the Beetaloo Joint Venture by acquiring Sasol’s 35 per cent share.
“Origin would like to recognise Sasol’s contribution to the Beetaloo Joint Venture to date, as it departs the Joint Venture to focus its capital investment on its African and North American footprint.
“The Beetaloo Basin is the Northern Territory’s most prospective onshore basin for shale gas and our test results estimate the joint venture’s contingent resource at a substantial 6.6 TCF of natural gas.
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