Diversified energy company Origin Energy (ASX: ORG) has announced the commencement of production from its Otway Gas Project's newly developed Geographe gas field in Bass Strait. The Geographe field has been in development since October 2011 and required well drilling and the installation of subsea facilities to connect the Geographe field to the existing Otway subsea pipeline.
Having completed its commissioning and testing, the Geographe field is now in production mode and joins the Thylacine field, both offshore gas fields, in supplying Origin's onshore gas processing facility near Port Campbell in southwest Victoria. The Otway Gas Project is an important supplier to Victoria's energy needs, supplying around 22% of Victoria's domestic gas demand.
Origin continues to boost its portfolio of energy assets through expansions such as the Geographe field and the recent purchase of electricity assets from the New South Wales government. Many Origin investors are more focussed on the progress of the massive Australia Pacific LNG (APLNG), as this has been described as a game changer for Origin. The scale of the APLNG project is huge and as important to Origin as the Papua New Guinea LNG (PNG LNG) project is to Oil Search (ASX: OSH) and both the PNG LNG and Gladstone LNG projects are to Santos (ASX: STO).
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Motley Fool contributor Tim McArthur owns a share of Origin Energy.
