Australia: Santos and Eni sign MOU to collaborate in northern Australia and Timor Leste
03 May 2021
Eni have signed a Memorandum of Understanding (MOU) to cooperate on opportunities in northern Australia and Timor-Leste.
The areas of cooperation include assessing the synergies of sharing possible infrastructures associated with gas field developments around Barossa and Evans Shoal, pipeline to Darwin and onshore associated gas processing leading to LNG expansion developments.
This also includes investigating options to re-purpose the Bayu-Undan facilities to extend the life of the project, including a carbon capture and storage project, subject to the agreement of the Timor-Leste government.
Santos Managing Director and Chief Executive Officer Kevin Gallagher said the MOU built on the momentum for development of northern Australia following Santos’ FID announcement of the Barossa gas and condensate project and life extension for Darwin LNG for the next 20 years.
Eni, Santos Eyeing Upstream, CCUS Collab May 3, 2021 Credit: Santos
Italian oil company Eni and Australia-based Santos on Monday agreed to jointly seek cooperation opportunities in Australia and East Timor.
Under the non-binding memorandum of understanding, the companies will look at potential optimizations, synergies, and sharing of infrastructure between the Barossa Project and the Evans Shoal development, including the potential expansion of Darwin LNG and options to repurpose and extend the life of Bayu-Undan field.
The deal could also see the two companies jointly develop CO2 capture and storage or utilization (CCUS) facilities, serving not only assets owned by the two companies but open to any interested third-party project in the Darwin area, with the long term objective of facilitating the creation of a CO2 management hub in the Northern Territory.
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Australia: Santos completes Bayu-Undan and Darwin LNG sell-down to SK E&S
30 Apr 2021
Bayu-Undan and Darwin LNG to
SK E&S, which is also a partner in
Barossa.
The sell-down resulted in net funds to Santos of US$186 million at completion, being the sale price of US$390 million less the cashflows from the 25 per cent interests from the effective date of 1 October 2019 to completion.
Santos agrees to sell a 25 percent interest in Darwin LNG and Bayu-Undan
Santos Managing Director and Chief Executive Officer Kevin Gallagher said he was delighted to formally welcome Barossa joint venture partner SK E&S as a partner in Bayu-Undan and Darwin LNG.
Santos welcomes CCS and hydrogen focus
Santos welcomes both the Federal and South Australian Governments focus on carbon capture and storage (CCS), and hydrogen technologies to put Australia at the forefront of the global energy transformation that is rapidly occurring. This will create jobs and cut emissions.
Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos is extremely well-placed to develop zero-emissions LNG and hydrogen products through its globally significant Moomba CCS project. Initially it is planned to store up to 1.7 million tonnes of CO2 per annum, but the Cooper Basin has the capacity to store 20 million tonnes of CO2 per annum.