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Highlights
- Rafael Gas Project licensing extended
- First gas production targeted for 2027
- Strategic LNG infrastructure support secured
Buru Energy (ASX:BRU) has received a two-year extension from the Western Australian Government Department of Mines, Petroleum and Exploration (DMPE) to apply for a Petroleum Production Licence or Petroleum Retention Lease over the Rafael gas and condensate field. This extension ensures continuity in the company’s development plans and provides flexibility to lodge the appropriate application once critical milestones for the Rafael Gas Project are met.
Located within Exploration Permit EP 428 in the Canning Basin, the Rafael field is a cornerstone in Buru’s broader ambitions of evolving from a pure explorer to a sustainable gas producer. With regulatory certainty now in place, Buru can continue its momentum toward first production.
Clear Development Timeline
The Rafael Gas Project stands out as the only proven conventional gas and condensate discovery in the Kimberley region. It is anchored by a high-confidence 1C contingent resource of approximately 85 billion cubic feet (Bcf) of gas and 1.8 million barrels of condensate. This resource base positions the project as a key contributor to regional energy security and long-term revenue generation.
Buru is targeting first gas and associated cash flow from Rafael by the second half of 2027. This timeline underlines the company’s strategic shift from exploration activity toward commercial production, aligning with broader energy needs in Western Australia.
Strategic Infrastructure Partnership in Place
To support the downstream phase of the project, Buru has established a critical partnership with Clean Energy Fuels Australia (CEFA). This collaboration enables CEFA to finance, construct, own, and operate the infrastructure needed for processing liquefied natural gas (LNG) and condensate from the Rafael field.
Under this model, Buru’s capital exposure is confined to upstream development, while CEFA earns a processing tariff. The agreement also outlines joint marketing and revenue-sharing mechanisms based on gas and condensate prices, giving Buru additional leverage to benefit from favorable market dynamics.
Path to Regional Energy Supply
The Rafael Gas Project is not just a milestone for Buru but also for the Kimberley region’s energy outlook. By offering a reliable domestic gas source and potential export product, it stands to contribute meaningfully to regional sustainability goals and economic development.
Although Buru Energy (BRU) is not currently listed among the top ASX 200, the company’s progress with Rafael underscores its growth potential in Australia’s evolving energy landscape.
