The loss includes impairment charges totalling US$567.1 million in respect of the Lancaster field, West of Shetland, and the company’s exploration assets and an associated deferred tax write-off of US$54.2 million.
The assets being sold consist of 50% of Central’s interests in its producing assets in the Northern Territory: Mereenie Oil and Gas Field, Palm Valley Gas Field, and Dingo Gas Field.
The programme comprises three production wells and will develop additional natural gas and liquids reserves, extending the life of the Bayu-Undan field as well as production from the offshore facilities and the Darwin LNG plant.