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Origin FY16 revenue up 15 pct on APLNG

AAP logoAAP 29/07/2016

Origin Energy's full-year production is up 57 per cent to 231.5 petajoules, helped by the startup of its Australia Pacific liquefied natural gas project in Queensland.

Origin, which supplies gas from its coal seam wells to the Conoco Phillips-operated APLNG project, said revenue for the full year to June 30 rose 15 per cent to $1.08 billion.

June quarter production rose 12 per cent on the March quarter, at 68.4 petajoules, helped by higher APLNG production and increased output production at Otway gas plant. Revenue for the three months was up three per cent, at $326.2 million.

APLNG, in which Origin holds a 37.5 per cent stake, shipped its first cargo in January. The plant's second unit is due to start shipments in the next few months.

The quarterly report only covers Origin's oil and gas production business. Details for its utilities business will be outlined in the full year results due next month.

Origin shares closed down 18 cents, or 3.2 per cent at $5.50.

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