Origin Energy Limited · ASX:ORG
Origin Energy — Corporate Update (July 2005)
8 slides from Origin Energy's corporate update, July 2005
Slide 1: BassGas Project Update
BassGas Project Update (July 2005) Grant King – Managing Director, Origin Energy 1 1
Slide 2: First gas production from the offshore platform was achieved earlier this year
First gas production from the offshore platform was achieved earlier this year… • Drilling of Yolla wells completed in September 2004 • Critical initial instrumentation testing completed in January • First gas delivered into pipeline 29th January 2005 • Rectification and completion of works progress
Slide 3: Offshore accommodation vessel to be contracted for platform rectification work
For ongoing platform rectification work an offshore accommodation vessel is to be contracted … • BassGas platform designed to be “not normally manned” • Work crews helicoptered to the platform in daylight hours but restricted by weather windows • Risks associated with daily flying • Platform access,
Slide 4: The Safe Concordia is intended to be positioned adjacent to the Yolla A platform
The Safe Concordia is intended to be positioned adjacent to the Yolla A platform … • The ‘Safe Concordia’ is a semi- submersible accommodation support vessel (ASV) – dynamically positioned – designed for North Sea conditions – provides on site accommodation, workshop, stores & logistics – expected o
Slide 5: The onshore plant has been constructed but rectification, testing and documentation continues
The onshore plant has been constructed but rectification, testing and documentation continues… Key elements of remaining work include – rectification of defects – instrumentation and loop testing – Documentation review, revision – Additional documentation as identified – Training of personnel …with
Slide 6: Revised Project schedule
Revised Project schedule … July - August Ongoing pre-commissioning and rectification works Late August Arrival of offshore accommodation vessel Safe Concordia September RFSU expected for onshore plant. Commissioning scheduled to commence using grid connected gas. October Re-Commission production fro
Slide 7: Hydrocarbon Reserves: 2P reserves in Yolla have significantly increased
Hydrocarbon Reserves: 2P reserves in Yolla have significantly increased following the drilling of the Yolla development wells... Product Jun-05 Jun-04 Increase % change Sales Gas (PJ) 324 256 68 26.4% Oil (MMBBL) 0.8 0 0.82 n/a Condensate (MMBBL) 14.0 13.7 0.3 2.4% LPG (Ktonnes) 972 1012 -41 -4.0% T
Slide 8: BassGas Project Update
BassGas Project Update (July 2005) Grant King – Managing Director, Origin Energy 8 8