Origin expects to take a AUD 1.2 billion (USD 946 million) impairment charge for the second half of 2017, of which a AUD 815 million (USD 642 million) charge is related to its stake in the Australia Pacific LNG plant (APLNG).
Origin, which holds a 37.5% stake in the two-train LNG plant on Curtis Island, said the impairment from the plant was primarily due to a reduction in oil price assumptions from USD 71/barrel to USD 67/barrel from 2022. The company added that exchange rates, discount rates and costs also played a part.
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