29 August 2016
Halladale/Speculant comes online
Origin Energy Limited (Origin) today announced that the offshore Halladale/Speculant fields in the Otway Basin have come online.
The 100 per cent Origin-owned Halladale/Speculant project is expected to boost production at the Otway Gas Plant by up to 80TJ/day and drive growth in underlying EBITDA from FY2017 onwards.
“Gas has a growing role both as a lower emissions replacement for coal and providing reliability to support growth in renewables and the Halladale/Speculant project will support that growing demand,” Origin Integrated Gas CEO David Baldwin said.
Delivered in two parts, the Halladale/Speculant project involved:
- Drilling from a land base (30-kilometres east of Warrnambool) to access offshore reservoirs locations five kilometres off the coast in the Otway Basin;
- Construction of the new 33-kilometre Halladale/Speculant pipeline, connecting the well site to the Otway Gas Plant.
“Our strategy is connecting resources to markets and we are delighted that Halladale/Speculant will contribute to domestic gas supply and support the growth in renewables,” Mr Baldwin said.
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Price review outcome and update on FY2021 guidance
Origin Energy Limited (Origin) has provided the following update on earnings guidance for the year ended 30 June 2021 (FY2021), following an adverse outcome on a domestic gas contract price review, combined with a further deterioration in Energy Markets’ operating conditions.