Transerv Energy Says Interested in Origin's Western Australian Gas Assets

Transerv Energy has confirmed its interest in sale process of Origin Energy’s Perth Basin, Western Australia assets.

In a statement issued Friday, Transerv said it has always been on the lookout for good business opportunities, particularly in the Perth Basin. It has lodged a non-binding indicative offer for the assets.

Origin is targeting up to A$800 million in asset sales by FY2017. This will include non- operated upstream interests and direct investments in assets for wind generation and infrastructure assets such as pipelines that require tolling arrangements to be put in place.

Accoring to Origin’s website, the Perth Basin assets include a stake in the producing Beharra Springs gas field as well as an interest in the Waitsia project.

In September last year, Origin stated that in order to lower debt, strengthen the balance sheet and reduce reliance on distributions from Australia Pacific LNG, it plans to reduce the company’s dividend for FY2016 and FY2017, make further reductions in capital expenditure and sell non-core assets.