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APLNG key for Origin

Origin Energy recorded $2.3 million in Australian Pacific LNG (APLNG) revenue for the December quarter of the financial year.

Production also increased for the company, with a 3 per cent increase from the previous reporting period.

Origin Energy said this was due to an increased number of wells online and effective well optimisation activity.

Despite the one per cent increase in APLNG revenue, the company did see a 21 per cent decrease in overall revenue due to lower realised oil prices, and lower short-term domestic contract volumes and prices.

Origin chief executive officer Frank Calabria said APLNG continues to be a strength for the company.

“Australia Pacific LNG continued to perform strongly, boosting production for the first half of the FY2024 compared with a year earlier, benefitting from effective well and field optimisation activities and fewer maintenance disruptions,” he said.

“It was pleasing to see production rebound to daily record by mid-December, following the turndown due to the LNG vessel that lost power at Curtis Island in November.”

Calabria also noted the company’s focus on progressing renewables and storage in its portfolio.

“We also made a further investment in Octopus Energy to lift our interest as the company continues to grow rapidly and expand the global licencing of its Kraken platform.”

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