Origin buys into MEO drilling project off Darwin ORIGIN Energy will expand its gas exploration interests after taking a stake in a project off the coast of Darwin. The group will acquire a 50 per cent participating interest in an MEO Australia drilling project it said had the potential to hold significant gas and possibly liquids resources. Origin will pay 80 per cent of the costs incurred so far and 80 per cent of the cost of drilling an exploration well on the Breakwater prospect, capped at $35 million. Origin will also become operator of the permit. MEO chief executive Jürgen Hendrich said success would feed into a growing regional gas market. "[The project] demonstrates MEO's business model of securing prospective acreage, adding value by undertaking diligent technical work and attracting a substantial partner to recover invested capital and fund the majority of drilling costs, while retaining a material residual interest," he said.