Buru awards pre-FEED study for Rafael Phase 1 project in Australia
Buru Energy has awarded GHD the pre-front end engineering design (FEED) scope for its Rafael first phase development in Western Australia's Canning basin, it said on October 9. This follows the company's confirmation of a two-phase development strategy announced in August to commercialise its 100% owned Rafael conventional gas and condensate field.
The engineering concept for the Rafael Phase 1 development includes a Kimberley-based hybrid gas-to-power and renewables project based on the already defined low-volume estimate of the Rafael contingent resource.
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Pre-FEED engineering for this first phase development is expected to be completed in 1H 2024, enabling the progression of the project to FEED in early 2H 2024, final investment decision in 2H 2025 and first production in 2H 2027.
Buru recently successfully completed the Rafael 3D seismic survey acquisition program within exploration permits EP 428 and EP 457 in the Canning Basin. Buru holds 100% interest in EP 428 while it has 60% ownership in EP 457 with the rest owned by Rey Resources. It operates both permits.
Buru has also appointed Miro Capital to act as an advisor in the company's current strategic partner selection process for the Rafael development.