ORIGIN Energy has signed a deal with Salamander Energy for five exploration blocks in Southeast Asia.
Salamander will also have the option to acquire an interest in one exploration block currently operated by Origin in Southeast Asia.
"The transaction with Salamander provides Origin with an exploration portfolio targeting gas supply to the fast growing energy markets in the region, particularly markets for power generation,” Origin managing director, Grant King says.
According to Origin, it will fund US$50 million of joint venture exploration across the five blocks will an additional US$40 million of joint appraisal expenditure if the exploration is successful.
Origin claims an active drilling program will commence in the farm-in areas at the beginning of next year with wells planned in four of the five blocks.
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