The development of the Santos-operated Barossa offshore gas development that will backfill the Darwin LNG export plant in Australia looks set to be further delayed after the offshore regulator suspended planned construction of an offshore pipeline due to indigenous heritage concerns.
Petronas has awarded Block SK427 off the coast of Sarawak to SK earthon, a subsidiary of South Korea’s SK Innovation, and Petroleum Sarawak Exploration & Production (PSEP) in an area where several discoveries were made last year. Petronas and SK will also collaborate on carbon capture and storage (CCS) opportunities.
South Korea’s SK Group will invest $100 million in a joint venture with 8 Rivers Capital that will focus on the decarbonisation of Korean and key Asian markets. Significantly, this marks one of the largest single private investments in a carbon capture solutions provider to date, said 8 Rivers Capital.
Santos, which operates the Bayu-Undan field offshore East Timor, said today that production from its Phase 3C infill drilling program has started with the first well producing a better than expected outcome.
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.
South Korean conglomerate SK Group will invest 18.5 trillion won ($16.5 billion) over the next five years to develop a domestic hydrogen industry.