Buru, Transborders complete pre-feasibility for Aussie FLNG project
Buru Energy and Transborders Energy have completed a pre-feasibility study for a Kimberley-based compact floating LNG (FLNG) plant solution for Buru’s Rafael conventional gas and condensate discovery in Western Australia’s Canning basin, they said on April 18.
Pre-feasibility study demonstrates that an FLNG facility is “a technically, commercially, and economically feasible” option to commercialise the Rafael gas and condensate resource based on independently assessed potential recoverable volumes of over 1 trillion m3 of gas and over 20mn barrels of condensate, Buru said.
The study confirmed that a compact, regionally located 1.6mn metric tons/year FLNG facility, in conjunction with onshore condensate and LPG processing, is an economically robust path for the development of the Rafael resource and could provide a relatively lower cost and shorter time frame to development than alternative gas export options, Transborders said.
“Following on from Buru’s acquisition of Origin Energy’s Canning basin joint venture interests announced less than two months ago that gave it 100% ownership of the regionally significant Rafael resource, the completion of this study is a significant step forward in the commercialisation pathway for Rafael,” Buru CEO Thomas Nador said.
Buru said it will continue to work with Transborders and its partners including Kyushu Electric Power, Mitsui O.S.K. Lines, Technip Energies, SBM Offshore and Add Energy, to progress commercial discussions and to refine the cost and schedule parameters for the next phase of the project definition.
In addition to the work on FLNG, Buru is also examining and screening other development options that cater for various Rafael resource volume scenarios to ensure the company can move expeditiously on a selected concept once appraisal outcomes are confirmed.
These include local Kimberley based power generation, smaller scale LNG production, downstream petrochemical processing projects and the potential to process Rafael gas for LNG export via the North West Shelf facilities.
“This work will ensure that there is a commercially attractive monetisation pathway for Rafael gas and condensate across the full range of contingent resource volumes,” Nador said.
In parallel with this commercialisation study work, Buru is on track to acquire the Rafael 3D seismic survey during this year’s operating season and is targeting appraisal drilling in 2024 to fully inform the development concept selection for Rafael.