Status of Buru Energy and Origin Energy Canning Basin Joint Venture
Source: www.gulfoilandgas.com 11/11/2022, Location: Not categorized
Buru notes the recent announcement by Origin Energy Limited (Origin) in relation to a nonbinding indicative offer to acquire Origin made by a consortium of Brookfield Asset Management Inc and MidOcean Energy (a company formed and managed by EIG).
The announcement indicates that the Integrated Gas assets of Origin, that would include Origin’s interest in the Canning Basin joint venture with Buru, would be acquired by MidOcean Energy. Buru notes that EIG is a major participant in the upstream petroleum industry with investments of over US$40 billion across the broader energy sector.
Buru will closely monitor the progress of this transaction and its implications for the Canning Basin Joint Venture where Origin had previously announced its intention to exit its upstream exploration permits across its portfolio including the Canning Basin, due to its changing strategic imperatives.
Authorisation
This ASX announcement has been authorised for release by the Board of Buru Energy.
