Buru Energy confirms phased strategy to commercialise Rafael
Melbourne, Victoria
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August 03, 2023 10:15 AM Eastern Daylight Time
Buru Energy Ltd (ASX:BRU, OTC:BRNGF) CEO Thomas Nador tells Proactive the company has confirmed a phased development strategy to commercialise its 100%-owned and operated Rafael discovery – the first proven significant conventional gas and condensate field in the Canning Basin of Western Australia. He says the strategy follows completion of concept studies that cover the full range of independently assessed contingent resources of gas and condensate.
“With full ownership of the Rafael discovery, Buru continues to de-risk the development through a project realisation approach that is designed to balance certainty of development outcome and value with the ongoing maturity of understanding of the Rafael accumulation,” Nador said.
The work done to date confirms that Rafael gas and condensate can be technically, commercially, and economically developed across the full range of independently assessed contingent resources, with a sequenced development based on appraisal outcomes providing strategic advantages to resource development.
This strategy will support the potential transformation of the Kimberley power system by providing a mix of low carbon intensity, secure and affordable energy to regional industrial consumers and communities in the near term, and also help optimise a full-scale, CCS supported, and export focussed development in the medium to longer term.
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