Australia’s Santos and Italy’s Eni are investigating options to re-purpose the Bayu Undan facilities to extend the life of the project, including a carbon capture and storage (CCS) scheme.
Australia’s Santos has completed the sell-down of 25% interests in Bayu-Undan and Darwin LNG to South Korea’s SK E&S, which is also a partner in the recently sanctioned Barossa development.
Australia’s Santos plans to take a final investment decision (FID) on its proposed Moomba carbon capture and storage (CCS) project that it said would be among the largest in the world.
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).
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 chief executive Kevin Gallagher, reportedly one of the top candidates to replace Peter Coleman as Woodside chief executive later this year, has been offered a one-off, A$6 million ($4.5 million) “growth projects incentive” to see through the delivery of major developments at the Australian company until 2025.
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.
Santos’ proposed offshore Barossa gas field development off Australia’s Northern Territory has the unfriendly tag of having more carbon dioxide than any gas currently made into liquefied natural gas (LNG), finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA).
Santos has approved final investment for its $3.6 billion Barossa gas and condensate project off Australia’s Northern Territory that is targeting production in 2025. The go-ahead marks the biggest investment in Australia’s oil and gas sector since 2012.
Australia’s Santos has awarded the biggest contract tied to its $3.6 billion Barossa liquefied natural gas (LNG) project in northern Australia that will backfill Darwin LNG. This offers a strong signal that a final approval for the scheme is imminent.
More than A$50 billion ($40.5 billion) of necessary decommissioning work needs to be carried out on Australia’s offshore oil and gas infrastructure, over half of which must be started within the next ten years.
Santos said today that its largest shareholder had sold about one third of its stake worth A$785 million ($603.7 million) in the Australian gas producer. This ends a strategic relationship with ENN Group, which is one of the largest gas distributors in China.
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.
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.
Santos has approved US$235 million worth of investment for an infill drilling campaign that will extend the life of the Bayu-Undan field offshore East Timor. As a result, the Santos-led Darwin LNG export plant, which is fed by the aging field, will not need to be shut down while new supplies of gas are developed.
The Santos-led Barossa LNG export project is on track for a final investment decision (FID) within six months after drastically cutting costs and securing a major Japanese buyer for some of Australia’s dirtiest LNG.
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
East Timor may have a second chance to see its Greater Sunrise field developed this decade as Australia’s Santos considers extending the life of the country’s Bayu-Undan project, which feeds the Darwin LNG export plant in northern Australia.
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Australia is seeking to cut emissions in one of the world’s biggest per-capita polluters by encouraging oil firms including Chevron Corp. and Woodside Petroleum Ltd. to invest in carbon-reduction projects.
Demand destruction and sustained oil prices below $40 per barrel mean Asia Pacific is bracing itself for a brutal wave of cost cutting that will see its reliance on imports rise as upstream investment is hit hard.
Looming wave of final investment decisions (FIDs) will provide massive boost for offshore oilfield service sector in Southeast Asia
Southeast Asia and Australia are set to take centre stage in the region’s upstream M&A activity as private equity companies sense a value opportunity.
Santos Energy has set out a deal to buy Australian gas assets, in the Northern Territory (NT), from ConocoPhillips for $1.39 billion.
Oil and gas producer Santos announced today it plans to buy up ConocoPhillips’s northern Australian portfolio.