Santos broadens scope in northern Australia
PERTH (miningweekly.com) – Oil and gas major 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 told shareholders that the transaction would boost its position in northern Australia, where it already holds an 11.5% interest in the Bayu-Undan gas-condensate field and the Darwin liquefied natural gas (LNG) plant, as well as a 25% interest in the Barossa field, which is currently in front-end engineering and design, and is a leading candidate to backfill Darwin LNG.
“This alignment of equity and operatorship will allow for a more strategic approach to the next phase of exploration in the region,” said Santos MD and CEO Kevin Gallagher.
“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.”
Gallagher said that the next steps for the permits would see the company evaluate new and existing seismic data in order to build inventory and define potential drill targets within the next few years.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation