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Origin Energy Limited (ORG) reported a 2% increase in production and a 16% increase in sales revenue for the quarter to December 2009 compared with the previous corresponding period (“pcp”). The company said the increases were primarily due to gas sales from storage, increased production from New Zealand assets, and higher liquids prices.

Origin said production and revenue for the December quarter were 7% and 10% lower respectively than the previous quarter.

Executive director, Finance and Strategy, Karen Moses, said the exploration and production business delivered production in line with guidance together with substantial progress across new developments such as Kupe and Talinga, drilling success in the Bass and Perth basins, agreement to acquire additional interests in the Otway Basin, and the acquisition of new opportunities in south east Asia.

Origin said production and sales revenue for the half year to December 2009 were 14% and 9% respectively lower than in the pcp. The company attributed the decrease to the 50% dilution of Origin’s share of CSG following the Australia Pacific LNG transaction together with lower contractual off-takes during the period and natural field decline.

“Production from the areas now held through Australia Pacific LNG joint venture grew by 24% when compared with the prior Half Year,” Ms Moses said.

“Further developments regarding the Australia Pacific LNG project included the awarding of three significant contracts for drilling and design, engineering, procurement and construction activities, as well as lodgement of the Project’s Environmental Impact Statement.”

As at 1427 AEDT, Origin shares were down 7c to $16.03.

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