Other Assets
Blina Oilfield (L 6 & L 8 – BURU ENERGY 100%)
Decommissioning of the legacy Lennard Shelf assets was progressed during the year with the Sundown 3H and West Terrace 2 wells successfully decommissioned. Any future production from Lennard Shelf fields including the Blina Oilfield and any new discoveries will require installation of new production facilities meeting current regulatory and environmental standards.
Yulleroo Gasfield (EP 391 & EP 436 – BURU ENERGY 100%)
The Yulleroo Gasfield accumulation contains a substantial 2C tight gas resource that has been independently certified. It also forms part of the much larger prospective tight gas resource in the wider Canning Basin and also has potential for conventional gas resources. A technical review of the field was completed during the year and the well plan for an appraisal well targeting possible conventional reservoir was completed by the Buru drilling team. Further work on the accumulation will be considered in conjunction with the wider exploration and appraisal program in the basin.
Carnarvon Basin (EP 510 – BURU ENERGY 25%)
In October 2020, Buru Energy and Energy Resources Limited (EnRes), a wholly owned subsidiary of Mineral Resources Limited, applied for Release Area L20-1 as part of the 2020 State Government onshore Petroleum Acreage Release.
This strategically positioned block, near established oil and gas infrastructure including the Tubridgi gas storage field, the Wheatstone LNG gas processing plant and associated pipeline infrastructure, was offered to the Joint Venture in March 2021, and subsequently awarded to the Joint Venture by the WA Government on 28 July 2022 as EP 510.
EnRes assumed operatorship of the permit coincident with this award, and as part of the farmout transaction executed between the parties on 24 May 2022, EnRes will carry Buru for the first two exploration wells to be drilled in the permit.
During the year, the Joint Venture continued planning activities in support of commencing drilling operations of these two exploration wells in CY 2024. These exploration wells will target highly prospective Palaeozoic aged structures geologically analogous to Buru’s discoveries in the Canning Basin.