ConocoPhillips (NYSE:COP) has completed the purchase of an additional 10% shareholding interest in Australia Pacific LNG (APLNG) from Origin Energy for $1.645 billion.
Rystad Energy estimates that Chevron, based on the gas reserves of its discovered fields in Australia, holds the top position in terms of non-producing assets, totalling 21 trillion cubic feet (Tcf), among the major upstream companies operating in the country.
New upstream oil and gas projects worth about $15 billion will be sanctioned in Australasia this year, according to Rystad Energy’s forecast, marking a huge boost compared to the $1.2 billion committed to new projects in 2020.
The chief executive of Irish independent Falcon Oil and Gas has predicted great things from its Australian operations after analysis on three well confirmed early indications of high potential.
