AWE Limited is an independent Australian energy company focused on upstream oil and gas opportunities.
Established in 1997 and listed on the Australian Securities Exchange (ASX: AWE), the company’s headquarters is in Sydney with an office in Perth. AWE has a substantial portfolio of production, development and exploration assets in Australia, Indonesia and New Zealand.
AWE has reshaped itself to operate sustainably in a low oil price environment. The company’s asset portfolio has been optimised to focus on gas in the near to medium term and is aligned with strengthening Australian domestic gas markets.
The company’s priorities centre on the development of Stage 2 of the Waitsia gas project in Western Australia and securing new gas sales contracts for Casino and BassGas on the east coast at substantially higher prices.
AWE also continues to progress the Ande Ande Lumut oil project in Indonesia to ensure the project is development-ready should oil prices improve.
AWE is now a more focused energy business that is investing in medium to long term growth. By FY21 the company aims to:
AWE shareholders are being asked to consider a takeover bid from Mitsui & Co,. Ltd.
Listed on the Australian Securities Exchange (ASX), AWE has reshaped itself to operate in a low oil price environment with a near-term focus on domestic gas production.