Santos Broadens Offshore Exploration in N.Australia

Laxman Pai
Tuesday, February 19, 2019

The oil and gas producer in the Asia-Pacific region Santos has struck a joint venture (JV) agreement with fellow-listed Beach Energy to partner over four exploration permits in the Bonaparte basin, offshore northern Australia.

The two companies will each hold a 50% JV interest in the four permits, with Santos acting as operator.

Santos’ position in the Bonaparte basin already includes an 11.5% interest in the Bayu-Undan gas-condensate field and the Darwin LNG plant, as well as a 25% interest in the Barossa field, which is currently in front end engineering and designand is the leading candidate to backfill Darwin LNG.

Santos Managing Director and Chief Executive Officer Mr Kevin Gallagher said: “This alignment of equity and operatorship will allow for a more strategic approach to the next phase of exploration in the region.”

“It also reinforces Santos’ significant exploration and existing substantial resource position in offshore Northern Australia and is a good example of industry collaboration aimed at doing things smarter.”

“We continue to chase material resource opportunities offshore Northern Australia to support our established infrastructure position at Darwin, with an eye to both export and domestic markets.”

“The next step for these permits is to evaluate new and existing seismic data to build inventory and define potential targets for drilling within the next few years. Permits NT/P82 and NT/P85, which are located immediately south of our Barossa project, will be a key focus for this work,” Mr Gallagher said.

Santos also holds 100% of WA-459-P and has an option to acquire a 40% operated interest of WA-488-P, where processing of a new 3D seismic survey over the large Beehive prospect is nearing completion.

Categories: Offshore Energy Exploration Regulation

Related Stories

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Yinson Production Closes $1B Investment to Drive Further Growth

CNOOC Starts Production at Offshore Field in South China Sea

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

Aker Solutions, PTAS JV Hooks Brownfield Services Extension off Brunei

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

Woodside to Shed Some Trinidad and Tobago Assets for $206M

Keel Laying for Wind Flyer Trimaran Crew Boat

Current News

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com