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Pre-feasibility study shows a Kimberley-based FLNG facility as a feasible option to commercialize Buru Energy's Rafael gas and condensate resource with over one TCF of gas and over 20 million barrels of condensate.
Continued work with Transborders Energy and other partners to progress commercial discussions, refine costs, and explore alternative commercialization pathways such as local LNG production and gas conversion to methanol, ammonia, and urea.
Rafael appraisal program ongoing with 3D seismic survey set for the second half of this year and appraisal drilling planned for 2024 to accelerate project development.
Buru Energy Limited (Buru) and Energy Resources Limited (EnRes) have been successful in their application for two highly prospective petroleum exploration areas in the Northern Carnarvon Basin and the Merlinleigh Sub-basin.
The areas were part of the WA Government Petroleum Acreage Release 2 of 2022, and have been offered to the joint venture of EnRes as Operator (75%) and Buru (25%).
The grant of the permits is subject to completion of Native Title agreements.