(NewsDirect)
Buru Energy Ltd(ASX:BRU, OTC:BRNGF) CEO Thomas Nador tells Proactive the company hasconfirmed a phased development strategy to commercialise its100%-owned and operated Rafael discovery – the first provensignificant conventional gas and condensate field in the Canning Basinof Western Australia. He says the strategy follows completion ofconcept studies that cover the full range of independently assessedcontingent resources of gas and condensate.
“With full ownershipof the Rafael discovery, Buru continues to de-risk the developmentthrough a project realisation approach that is designed to balancecertainty of development outcome and value with the ongoing maturityof understanding of the Rafael accumulation,” Nador said.
The work done to dateconfirms that Rafael gas and condensate can be technically,commercially, and economically developed across the full range ofindependently assessed contingent resources, with a sequenceddevelopment based on appraisal outcomes providing strategic advantagesto resource development.
This strategywill support the potential transformation of the Kimberley powersystem by providing a mix of low carbon intensity, secure andaffordable energy to regional industrial consumers and communities inthe near term, and also help optimise a full-scale, CCS supported, andexport focussed development in the medium to longer term.
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Proactive Investors
JonathanJackson
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