Buru Energy Ltd., Perth, and its joint venture partner Mitsubishi have completed the third and final native title agreement paving the way for securing a production license over Ungani oil field onshore Canning basin in Western Australia.
The third claimants, the Yawuru people, executed the final agreement this week.
Terms of the agreement include the Yawuru people granting production licenses STP-PRA-004 and 005 required for commercial development of the field.
The deal follows agreements executed recently with the Nykikina Mangala and the Karajarri Yanja peoples.
Buru can now submit its license application to Western Australia’s Department of Mines and Petroleum and expects to have the license within the next 2 months.
The native title agreements deliver financial and other benefits to the traditional landowners. They also include a process for managing cultural, heritage, and environmental matters for those parts of the project within the three groups’ respective native title areas.
Ungani will be the first new, commercial oil production from the Canning basin since the 1990s.