Origin Energy Limited (Origin) announces it has revised its operating segments ahead of the company’s interim financial results for the half year ended 31 December 2015, to be released on 18 February 2016.
The adjustment has been made to reflect Origin’s divestment of its 53.09% interest in Contact Energy which occurred on 10 August 2015, and the decision announced on 20 August 2015 to combine the Exploration & Production and LNG businesses into a single segment called Integrated Gas from 1 July 2015. The new segment reporting format will be used for the presentation of Origin’s interim financial results for the half year ended 31 December 2015. The OFR will include additional information on the performance of the Integrated Gas segment for each of the LNG and E&P operations.
The changes to Origin’s operating segments do not result in any change to the reported statutory or underlying profit for the consolidated group in prior periods.
About Origin Energy
Origin Energy (ASX: ORG) is the leading Australian integrated energy company focused on gas and oil exploration and production, power generation and energy retailing. A member of the S&P/ASX 20 Index, the Company has approximately 6,900 employees and is a leading producer of gas in eastern Australia. Origin is Australia’s largest energy retailer servicing 4.3 million electricity, natural gas and LPG customer accounts and has one of the country’s largest and most flexible generation portfolios with approximately 6,000 MW of capacity, through either owned generation or contracted rights.
Origin’s strategic positioning and portfolio of assets provide flexibility, stability and significant opportunities for growth across the energy industry. Through Australia Pacific LNG, its incorporated joint venture with ConocoPhillips and Sinopec, Origin is developing one of Australia’s largest CSG to LNG projects based on Australia’s largest 2P CSG reserves base.
In New Zealand, Origin operates oil and gas projects and holds petroleum exploration acreage.
Origin has a strong focus on ensuring the sustainability of its operations, is the largest green energy retailer in Australia and has significant investments in renewable energy technologies.