Australian oil and gas E&P company Buru Energy has entered into an agreement with compatriot Transborders Energy to study LNG project solution for its large-scale Rafael conventional gas and condensate discovery in the Canning Basin.
The agreement is part of Buru Energy’s ongoing efforts to commercialise the Rafael gas and condensate discovery .
It covers a pre-feasibility study for a Kimberley-based compact marinised LNG plant solution which is said to potentially provide a faster, more capital-efficient, and less complex regulatory and commercial alternative LNG production pathway for Rafael gas than a concept involving transporting gas to the North West Shelf (NWS) for liquefaction and export.
The pre-feasibility study is due to be completed by end of the first quarter of 2023.
The solution being evaluated for potential Rafael gas commercialisation has obtained “Major Project” designation from the Australian Government and has been developed in a multi-project collaboration arrangement with Kyushu Electric Power, Mitsui OSK Lines, Technip Energies, SBM Offshore and Add Energy.
Commenting on the contract award, Buru’s CEO Thomas Nador said: “We are very pleased to be collaborating with Transborders on the potential use of a more localised, scalable, and innovative LNG solution for bringing Rafael gas to market.
“This relationship is an important component of our commercialisation options for the development of our world-class Rafael resource, particularly as under the collaboration arrangement, Transborders has access to a world-class multi-disciplinary team across the full development and sales spectrum.”
Transborders’ Director Daein Cha added: “We are pleased to collaborate with Buru for deploying our solution with the aim to accelerate the commercialisation of Buru’s Rafael-related assets.
“With the Governments of Japan and Australia reaffirming the critical importance of enhancing energy security via cooperation through secure and reliable LNG trade and investment, this development could materially contribute to this important cause.”