.originenergy will divest of its Beetaloo Basin tenements and has announced plans to exit upstream exploration RenewableEnergy renewables energy resources shale gas LNG
PERTH – Energy major Origin Energy on Monday flagged plans to divest of its interest in the Beetaloo basin, in the Northern Territory for A$60-million and royalties, saying it intends to exit upstream exploration permits and to focus on renewable energy.
“Notwithstanding the prospectivity of any of these permits, typically the experience in progressing these types of projects is that the exploration and appraisal phase can be uncertain, and it can be capital intensive to bring projects into production. Ultimately, we believe Origin is better placed prioritising capital towards other opportunities that are aligned to our refreshed strategy.
“We’ve been exploring in the Beetaloo basin alongside our partner Falcon for eight years, and we’re grateful for the strong support we have received from the local community, including Native Title holders and contractors, as well as the Northern Territory and federal governments.
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