Armour arises as major player in the Surat

Armour Chief Executive Officer Robbert de Weijer

Armour Chief Executive Officer Robbert de Weijer

Armour Energy has bought Origin Energy’s Roma Shelf assets, making it one of the biggest gas, LPG, condensate and oil producers in Queensland’s Surat Basin.

Armour will acquire Origin’s petroleum resources, tenures, production and transportation infrastructure for $A10 million cash plus $A3 million in deferred consideration.

Assets include the Kincora gas, LPG and condensate processing facilities, providing a regional hub, a dedicated pipeline to the 440 km Roma to Brisbane Pipeline at Wallumbilla, and the Newstead and other potential gas storage facilities.

Armour Chief Executive Officer Robbert de Weijer said the deal sets the company up to become a major supplier of hydrocarbons to domestic and export markets in the short and longer term.

“The Roma Shelf is one of those prolific areas that just keeps on giving.

“There is well established infrastructure and services nearby. Armour’s team is ready for this move.”

Mr de Weijer added that the acquisition comes at a time of rapid increase in demand in the east coast gas market.

The deal includes over 3,000 sq km of highly prospective acreage in the western flank of the Surat Basin’s Taroom Trough, 19 production licences, including six non-operated, four authorities to prospect, with one non-operated, and four petroleum pipeline licences.

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