Australasia

Asia

Global interest expected in Santos Dorado sale

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).

Asia

Twist of irony as East Timor eyes LNG imports

East Timor is considering building a liquefied natural gas (LNG) import terminal and converting oil-fired power plants to gas in an effort to slash energy supply costs and cut greenhouse gas emissions. The move seems slightly ironic given the country advocated developing an LNG export complex for much of the past decade.

Asia

Santos’ Barossa LNG emissions create major risks for shareholders

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).

Asia

Santos approves $3.6bn Barossa LNG project

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.

Asia

Blow for Santos as China’s ENN exits

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.

Asia

Jadestone seeks FPSO for Vietnam

Asia Pacific-focused Jadestone Energy is preparing to re-issue a tender for a floating production storage and offloading (FPSO) vessel for its planned gas development at Nam Du and U Minh off Vietnam.

Oil & Gas

Woodside readies giant Scarborough project despite $4bn loss

Woodside Petroleum reported a net loss of almost $4.03 billion for 2020 despite delivering a record full-year production of 100.3 million barrels of oil equivalent (boe). Still, its proposed $12 billion Scarborough liquefied natural gas (LNG) export project in Australia remains on track for final investment approval later this year.