Genesis could sell Kupe stake

Fri, 27 Nov 2020

Genesis Energy is considering selling its 46 percent stake in the Kupe gas field as part of a wider review of the group’s capital structure.Kupe, the country’s third-largest gas producer, accounted for about a fifth of Genesis’s gross margins in the year ended June 30. The company has first rights to gas from the field which was developed to provide fuel for the 400-megawatt power station the company commissioned at Huntly in 2007.The field, managed by 50 percent-owner Beach Energy, is in its 12th year of production and will r...

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