Santos says Barossa remains on track despite drilling halt
Santos says drilling at its Barossa project off Australia could restart by the end of the year and that the project remains on time and on budget for start-up in 2025.
Dorado
Australia’s Santos reports $2.5bn profit surge from higher oil and gas prices
Santos (ASX:STO) today announced its full-year results for 2022, reporting record free cash flow of US$3.6 billion and underlying profit jumping 160% to US$2.5 billion. The results reflect significantly higher oil and LNG prices compared to 2021, due to stronger global energy demand, combined with a higher interest in PNG LNG following its merger with Oil Search.
Santos bags key Dorado environmental approval in Australia
Australian oil and gas producer Santos (ASX:STO) today reported that it has approval from the offshore petroleum regulator for its US$2 billion Dorado oil and gas project in Western Australia. Significantly, the news may ease concerns about the regulator’s harder approach towards project approvals since a court ruling last year.
PNG offers Santos $1.4bn for 5% share of ExxonMobil-led PNG LNG
Santos (ASX:STO) has confirmed that it has received a US$1.4 billion offer from Papua New Guinea’s (PNG’s) national oil company Kumul Petroleum to acquire a 5% interest in the ExxonMobil-operated PNG LNG export complex from the Australian company. Crucially, the deal, if it goes through, will help Santos’ strategic about face towards oil in Alaska.
Santos delays Dorado FID as inflation risk bites
Santos (ASX:STO) has put on hold plans for a final investment decision (FID) at its Dorado oil project offshore Western Australia as spiralling costs related to the construction of a floating production storage and offloading (FPSO) unit pose too much risk.
Carnarvon cheers Pavo resource estimate near Dorado
Australia’s Carnarvon Energy (ASX:CVN) reported that the recent Pavo-1 exploration well drilled offshore Australia proved up a “substantial volume of light oil in excellent quality reservoirs” and “significantly increases Carnarvon’s oil resources for potential development through the Dorado facilities.”
Carnarvon raises $52.7m as FID eyed for Dorado offshore Australia
Australian-listed Carnarvon Energy (ASX:CVN) said today that it has raised A$70 million (US$52.7 million) via an institutional placement to help bring the large Dorado liquids development offshore Australia to a final investment decision (FID) this year.
Santos hits ‘significant oil discovery’ with Pavo-1 near Dorado
The Pavo-1 exploration well near the Dorado field offshore Western Australia in the Bedout sub-basin has made a “significant oil discovery” that has an estimated breakeven cost at less than $10 per barrel, operator Santos (ASX:STO) said today.
Santos prepares to drill exciting exploration well near Dorado
Australia’s Santos (ASX:STO) will this week start drilling Pavo-1, a highly anticipated exploration well, near its high-quality Dorado field offshore Western Australia.
Carnarvon upbeat on Bedout basin after East Timor disappointment
Australian-listed Carnarvon Energy (ASX:CVN) is excited by its projects in the Bedout basin offshore Western Australia following a disappointing drilling result at the Buffalo field offshore East Timor.
Sembcorp wins Dorado FPSO work
Singapore’s Sembcorp Marine will carry out front-end engineering design (FEED) work for the floating production, storage and offloading (FPSO) facility that will form part of Santos’ Dorado development offshore Australia.
Sapura Energy wins FEED for Dorado wellhead platform
Malaysia’s Sapura Energy will carry out front-end engineering and design (FEED) work for the construction and installation of the wellhead platform (WHP) for the Santos-led Dorado project, in the Bedout Sub-basin, offshore Western Australia.
Santos awards Altera the FEED deal for Dorado FPSO
Altera Infrastructure (formerly Teekay Offshore) has been chosen to provide front-end engineering and design (FEED) work for the Dorado oil project's floating production, storage and offloading (FPSO) vessel offshore Western Australia.
BHP a ‘natural buyer’ of Santos’ Dorado oil project
Santos is seeking buyers for a share in its $2 billion Dorado oil project offshore Western Australia and energy consultancy Rystad Energy expects BHP will be looking closely at the asset.
Santos seeks investors for Dorado as $2bn oil project enters FEED
Australia’s Santos today announced that its large Dorado oil project offshore Western Australia has started the front-end engineering and design (FEED) phase. Santos is also seeking buyers for a share in the development, which has a “very low” carbon dioxide footprint and is expected to initially cost $2 billion.
Global interest expected in Santos Dorado sale
Santos is seeking buyers for a 20-30% stake in its large Dorado oil project and Bedout exploration portfolio offshore western Australia estimated to be worth up to $200 million. Significantly, there is expected to be global interest in the sales process, which could be particularly appealing for Asian national oil companies (NOCs).
Advance bullish on Buffalo bonanza off East Timor
UK-listed Advance Energy has successfully raised the capital to acquire a 50% stake in the Buffalo project off East Timor. Drilling at the redevelopment project later this year is targeting a potential oil bonanza.
Santos eyes growth projects, readies Barossa LNG
Australia’s Santos today confirmed its Barossa liquefied natural gas (LNG) export project is on track for final investment approval during first half 2021 after reporting a net loss of $357 million for 2020.
Woodside helps Australian offshore exploration spend hit 44-year low
Despite offshore exploration spending hitting a new low, drilling activities are expected to ramp up, with BP’s exciting Ironbark-1 well targeting a potentially giant gas deposit off Western Australia and Santos probing an exciting shale formation in Northern Australia
Equinor picks up exploration acreage near Dorado discovery off Australia
Norwegian energy giant Equinor has picked up exploration acreage off Western Australia.