Origin Reports on Year Jump in December Quarter Output

Origin Energy has reported a 28 per cent y-o-y jump in production in the quarter that ended on December 31.

The December quarter total output stood at 37 petajoules equivalent (PJe) and the jump in production is mainly driven by higher volumes from Otway Basin, the company said.

When compared with the previous quarter, production decreased by 1 per cent as higher plant availability and increased volumes at Otway were offset by lower seasonal demand at Kupe.

Origin also reported on the progress of the Australia Pacific LNG (APLNG) project. The project which is a joint venture partnership between Origin, ConocoPhillips and Sinopec.

Origin Chief Executive Officer LNG, David Baldwin said, "The delivery of Australia Pacific LNG remains a key priority for Origin and we continue to make progress with the upstream component approximately 58 per cent complete and the downstream component approximately 62 per cent complete."

Sales revenue stood at $281m for the quarter as against $306.7m for the previous quarter, although the December figure compared favourably with the same three month period last year when Origin made $202m.

 Sign-up for our free weekly newsletter update via email here