Origin to make first shipment from Kupe
January 15, 2010
Origin Energy Limited (ORG) said that it is shipping its first oil from New Zealand’s Kupe field next week. Origin said the shipment is expected to be the first of 254 Petajoules of natural gas, 1.1 million tonnes of LPG and 14.7 million barrels of light crude produced over the next 15 to 20 years.
The first shipment was contracted to BP and would be between 120,000 and 180,000 barrels and is destined for the Kwinana refinery in Australia.
The 50%-owned Origin-owned Kupe field was expected, when fully operational, to provide between 10% and 15% of New Zealand’s annual gas requirements and 50% of its LPG.
At 1111 AEDT, Origin shares were trading down 15c, or 0.9% to $17.19.
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