7 January 2016
Origin confirms its operational integrity and robust compliance processes
Updated 4:30pm 7 January 2016
Recent media reports have questioned the operational integrity of a number of Origin’s conventional oil and gas assets.
Origin Managing Director, Grant King said, “These reports present an incomplete picture of Origin’s internal compliance processes.
“We have robust compliance processes and reject any inference to the contrary.
“We engage openly and regularly with regulators via dedicated teams and we are confident that there has been no breach of an external compliance reporting obligation. We regularly audit our compliance processes and cooperate with audits by regulators.
“We welcome any further reviews by regulators into our reporting obligations.
“We note the allegations about the Company’s governance and regulatory compliance processes have been made by a former employee in the context of legal action relating to a breach of workplace protection rights under the Fair Work Act.
“When the claimant raised concerns, they were considered in a thorough and respectful way, and independently investigated at Origin’s instigation. Three separate investigations were conducted by external specialist consultancies, and each reported that the concerns were not substantiated.
“Origin is defending the claim and will file a defence in due course. Out of respect to the court process and the claimant, we will confine our comments on the matter to the appropriate forum of the Court,” Mr King 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.