Barossa News

Santos Makes $235M FID for Bayu-Undan Infill Drilling Program

Jan 05, 2021

Australian oil and gas company Santos, the operator of the Bayu-Undan field in the Timor Sea, off Timor Leste, has reached a Final Investment Decision for the US$235 million Phase 3C infill drilling program at the offshore field.The program…

Santos in 10-Year Barossa Gas Sales Deal with Mitsubishi

Dec 07, 2020

Australia's no. 2 independent gas producer Santos Ltd said on Monday it signed a 10-year agreement to supply liquefied natural gas (LNG) from its Barossa project to a unit of Japan's Mitsubishi Corp.Santos will supply Diamond Gas International 1…

Australia's Santos Secures $750M Loan

Nov 05, 2020

Australian oil and gas company Santos has executed documentation to enter into a new US$750 million syndicated bank loan, to refinance existing debt facility established for the acquisition of ConocoPhillips’ northern Australian and Timor-Leste assets…

Rystad: Demand for Offshore Trunklines to Drop 26%. Middle East to Drive Recovery

Sep 29, 2020

Norwegian energy intelligence company Rystad expects that the market demand for large-diameter offshore pipelines, known as trunklines, will see an annual drop of 26% this year.According to Rystad, the length of total installations this year is forecasted to reach 2…

Santos Cautious on Pandemic Recovery, Hangs On to Cash

Aug 20, 2020

Australia's No. 2 independent gas producer Santos Ltd paid out a weaker than expected half-year dividend amid uncertainty over a recovery from the coronavirus pandemic, as the oil market slump halved its first-half underlying profit.Disappointed investors sent its shares down more than 5%…

How Will the Asia Pacific Upstream Sector Emerge from the Crisis?

Jun 17, 2020

The oil price crash has transformed the outlook for the region’s E&P sector. Globally, governments and operators have been forced into action to rework investment plans in response to the dual impact of the precipitous fall in both demand and oil prices…

Santos Completes Acquisition of ConocoPhillips' Australia Assets

May 28, 2020

U.S. oil company ConocoPhillips has completed the sale of its Australia-West assets and operations to Australia's Santos.The two companies in October 2019 struck a deal for Santos to acquire ConocoPhillips’ northern Australia business with operating interests in Darwin LNG…

Santos Revenue Down. Says Has Strong Liquidity Position

Apr 23, 2020

Australia's Santos Ltd posted a 13% drop in first-quarter revenue on Thursday due to lower realized prices for oil and gas, but said it had sufficient liquidity and debt headroom to weather the recent crude price crash.The country's second-largest…

Santos to Sell Barossa Stake to JERA

Apr 16, 2020

Australian oil and gas company Santos has signed a Letter of Intent (LOI) to sell a 12.5% interest in Barossa offshore development in Australia to JERA. The Final Investment Decision for the project, though, has been delayed due to the economic uncertainty caused by COVID-19 and low oil prices…

Oil Price Crash - Where Does Asia Go from Here?

Mar 17, 2020

Energy companies across the Asia Pacific responding to unprecedented challenges on multiple fronts 2020 has hit us like a fist. Coronavirus is already the most severe shock to hit the world economy since the financial crisis over a decade ago…

Santos Reviewing Spending Plans. Freezes Hiring, No Mass Job Cuts Planned

Mar 17, 2020

Santos Ltd, Australia's No. 2 independent gas producer, said on Tuesday it is reviewing all its capital spending plans in light of the collapse in oil prices and would stop all new hiring.Santos had planned to spend $1.45 billion in 2020, including $500 million on major growth activities…

Santos Sells 25% in Darwin LNG and Bayu Undan Field for $390M

Mar 12, 2020

Australia's oil and gas company Santos will sell a 25% interest in Darwin LNG and Bayu Undan gas condensate offshore field to SK E&S for US$390 million with effect from October 1, 2019 with customary adjustments on completion.Santos also said…

Subsea 7 in 'Large' Barossa SURF Contract

Mar 03, 2020

Subsea 7 has won what it describes as 'a large contract' by ConocoPhillips in Australia. Subsea 7 defines a large contract as between $300 million and $500 million.The contract is for the supply of the SURF scope for the Barossa Project. The…

Independent Operators Lead 2020 FPSO Surge

Feb 04, 2020

2020 will be a peak year for floating production, storage and offloading unit (FPSO) demand with up to 14 awards forecast in Wood Mackenzie’s base case scenario, half of which will be located offshore Latin America. Only two of these facilities are expected to be Petrobras units…

Santos Lifts 2025 Production Forecast

Dec 03, 2019

Santos Ltd on Tuesday increased its forecast for 2025 production by 20% underpinned by oil and gas projects it plans to develop in Australia and Papua New Guinea.The company plans to produce 120 million barrels of oil equivalent (mmboe) a year by 2025…

Current News

Shell Accelerating Renewables Push in Germany

Shell Accelerating Renewables Push in Germany

Denmark Might Not Reach Its 2030 Emissions Reduction Goal as It 'Relies on Unproven Tech'

Denmark Might Not Reach Its 2030 Emissions Reduction Goal as It 'Relies on Unproven Tech'

Borr Drilling Expects Demand for Modern Jack-Up Rigs to Grow

Borr Drilling Expects Demand for Modern Jack-Up Rigs to Grow

Eni Officially Enters Giant Offshore Wind Project in UK

Eni Officially Enters Giant Offshore Wind Project in UK

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