Onshore oil producer Buru Energy has secured a native title agreement to further develop its Canning Basin gas resources, two years after its plans for a fracking program in the Kimberley caused a stir.
Perth-based Buru said today that it and its joint venture partner Mitsubishi Corporation had executed a key native title agreement with the Yungngora Aboriginal Corporation, which covers land in the area of the Noonkanbah Pastoral Station in the Kimberley.
The agreement is in the form of an Indigenous Land Use agreement with the Yungngora people.
The Canning Basin assets form part of Buru’s tight wet gas exploration portfolio.
“The agreement provides for, amongst other matters, the support of the Yungngora people for the future grant of the tenure required for the further development of the gas resources in the area,” Buru said in a statement.
“The agreement will deliver significant financial and other benefits for the traditional owners and include structured processes for managing cultural, heritage and environmental matters.”
Buru received support from the Yungngora community in June 2014, which sparked criticism from respected Aboriginal leader Wayne Bergmann, who accused Buru and Mitsubishi of jumping the gun on their fracking plans in the Kimberley.
Buru chairman Eric Streitberg said the agreement was an historic event for the traditional owners, the Kimberley and WA.
“This is an historic moment that shows what can be achieved through respectful and transparent engagement with shared goals and purpose,” Mr Streitberg said.
“Our interaction with the Yungngora people has at all times been respectful of their connection to country, and their cultural practices and sensibilities.
“We have been delighted we have been able to contribute to the growth and wellbeing of the community as a whole and of many of the individual community members.”
Buru shares were 2.2 per cent lower to 21.5 cents each at the close.
