Traditional landowners in Australia’s Northern Territory have launched legal action against South Korea’s export credit agencies in an attempt to block funding for the Santos-led $3.6 billion Barossa gas project, which will backfill the Darwin liquefied natural gas (LNG) export plant.
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.
Sunda Gas is busy completing various studies that could lead to the commercial development of the shallow-water Chuditch gas discovery offshore East Timor with a potential floating liquefied natural gas (LNG) development under consideration.
Australia’s Santos has started front-end engineering and design (FEED) work for its proposed giant carbon capture and storage (CCS) project offshore East Timor at the Bayu Undan field. Significantly, Santos aims to take a final investment decision (FID) in 2023 on the CCS project, which it claims has the potential to be the largest in the world.
Santos, SK E&S, K-CCUS Association, CO2CRC and Korea Trade Insurance Corporation have signed a memorandum of understanding (MOU) to support and collaborate in the development of carbon dioxide (CO2) storage facilities.
ExxonMobil (NYSE:XOM), which operates the PNG LNG export complex in Papua New Guinea (PNG), has sealed a gas agreement with the PNG government that provides a clear framework for development of the P’nyang field to backfill existing liquefied natural gas (LNG) infrastructure. However, major development activities are unlikely to start before 2027.
The Institute for Energy Economics and Financial Analysis (IEEFA) believes the start of work on the Santos-led Barossa liquefied natural gas (LNG) development offshore northern Australia should be suspended as the associated carbon capture and storage (CCS) scheme, proposed by the operator, remains problematic and will not cut emissions. Otherwise the CCS project should be viewed as nothing more than ‘green washing’ and a diversion while construction continues, said IEEFA.
As part of its portfolio optimisation drive Australia’s Santos is targeting total sales proceeds of between $2 billion and $3 billion by shedding some assets.
East Timor-based independent think-tank La'o Hamutuk has hit out at Santos’ plans to store carbon from its proposed Barossa liquefied natural gas (LNG) development at the Bayu Undan field in the Timor Sea by filing a submission to the Northern Territory (NT) Environmental Protection Authority (NTEPA).
Santos (ASX:STO) today announced a booking of 100 million tonnes of carbon dioxide (CO2) storage resource in the Cooper Basin in South Australia.
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.
Private equity took a keen interest in the UK North Sea in 2021, with £2.4 billion worth of deals for the country’s oil and gas industry.
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.
South Korea’s largest private gas provider SK E&S is facing legal action from a climate activist group alleging that it falsely advertised the green credentials of the Santos-led (ASX:STO) Barossa liquefied natural gas (LNG) project in Australia.
US-based Baker Hughes (NASDAQ:BKR) will supply Santos’ (ASX:STO) Moomba carbon capture and storage (CCS) project in Australia with turbo machinery equipment.
The merger of Australia’s Santos (ASX:STO) and Papua New Guinea-focused Oil Search is now complete following shareholder approvals and the blessings of PNG.
Santos said today that it has signed a $300 million deal to sell a 12.5% interest in the Barossa project in Australia to Japan’s JERA.
Fast-moving plans for a Santos-led carbon capture and storage (CCS) project at the Bayu Undan field offshore East Timor, that would see the nation import Australia’s waste, have been described as “carbon colonialism” by independent thinktank La'o Hamutuk.
Norway's BW Offshore (OL:BWO) said that the Barossa floating production storage and offloading (FPSO) vessel project for Santos (ASX:STO) is experiencing some cost increases due to price inflation for materials.
Santos (ASX:STO) is partnering with Australia’s national science agency, CSIRO, to develop what is hoped could become the lowest cost direct air capture technology in the world.
Santos and joint venture partner Beach Energy have given final investment approval to proceed with the $165 million (A$220 million) Moomba carbon capture and storage (CCS) project in South Australia with start-up expected in 2024. But critics say Australian tax payers will be footing the bill for the emissions reductions effort and not the fossil fuel companies.
The integration of solar energy into Australia’s liquified natural gas (LNG) industry could dramatically reduce Australia’s carbon footprint while also creating thousands of additional jobs, according to the latest research by government-funded NERA (National Energy Resources Australia) and Charles Darwin University (CDU).
The ExxonMobil-led (NYSE:XOM) PNG LNG joint venture have taken a final investment decision on the Angore upstream development that will help backfill the export plant in Papua New Guinea (PNG).
Australia’s Santos (ASX:STO) delivered record quarterly sales revenue of US$1.14 billion and record quarterly free cash flow of US$359 million.
Despite a proposed carbon capture and storage (CCS) scheme, the Santos-led (ASX:STO) Barossa liquefied natural gas (LNG) project in Australia, will continue to release financially risky carbon dioxide emissions onsite, onshore and across the supply chain. This makes it one of the more expensive and dirtiest gas projects in the world, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA).