Buru Energy (ASX: BRU) has reached a key milestone towards full development of the Ungani oil field in the onshore Canning Basin.
Western Australian Mines and Petroleum Minister Norman Moore issued a Declaration of Location over the field, verifying Buru's interpreted extent of the field and proposed process for commercial development.
This involved a technical and geological examination of the oil field and covers the four graticular blocks around the field as requested by Buru.
Buru has now lodged an application for a production licence over the field, which contains details of the proposed full scale development process for review and assessment by the Department of Mines and Petroleum.
It also formally commences the Native Title negotiation process with the Yawuru and Nyikina-Mangala peoples, which Buru said it had longstanding good relations with and is already actively engaged with them on an ongoing basis in its current operations.
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Western Australian Mines and Petroleum Minister Norman Moore issued a Declaration of Location over the field, verifying Buru's interpreted extent of the field and proposed process for commercial development.
This involved a technical and geological examination of the oil field and covers the four graticular blocks around the field as requested by Buru.
Buru has now lodged an application for a production licence over the field, which contains details of the proposed full scale development process for review and assessment by the Department of Mines and Petroleum.
It also formally commences the Native Title negotiation process with the Yawuru and Nyikina-Mangala peoples, which Buru said it had longstanding good relations with and is already actively engaged with them on an ongoing basis in its current operations.
Read More
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