East Timor is extending the deadline for its second licensing round in an effort to drum up more interest from international oil companies (IOCs) and national oil companies (NOCs).
Australia’s Santos today announced that it has signed a memorandum of understanding (MoU) with East Timor’s regulator ANPM to progress a carbon capture and storage (CCS) project, estimated to cost $1.6 billion, at the ageing Bayu Undan field in the Timor Sea. But low returns and high complexity threaten the viability of the proposed scheme.
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.
Santos has started its $235 million Phase 3C infill drilling campaign offshore East Timor in an effort to extend the life of the Bayu-Undan field. If successful, the Santos-led Darwin liquefied natural gas (LNG) export plant in Australia, which is fed by the ageing field, will not need to be shut down while new supplies of gas are developed.
Santos is exploring potential liquefied natural gas (LNG) expansion developments for its Darwin export plant in northern Australia after signing a memorandum of understanding with Italy’s Eni.
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.
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.
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.
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.
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.
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.
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.
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.
The joint venture between Clough and AMEC has been awarded a three-year contract by ConocoPhillips to provide asset support, operations and maintenance services to the Bayu-Undan offshore field development, located in the Timor Sea, north of Australia.