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…
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…
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%…
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…
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…
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…
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…
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 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…
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…
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…
Partners in the Barossa project have taken another step toward a final investment decision (FID) with the awarding of the contract for the floating production, storage and offloading (FPSO) facility to MODEC International Inc., project partner Santos announced on Tuesday…
Santos announced it has acquired ConocoPhillips’ northern Australia business with operating interests in Darwin LNG, Bayu-Undan, Barossa and Poseidon for US$1.39 billion plus a $75 million contingent payment subject to FID on Barossa.Matt Fox…
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…
Santos, a partner in the Barossa offshore gas and light condensate development offshore Australia, said the project is moving toward a final investment decision (FID) early next year following operator ConocoPhillips awarding the gas export pipeline contract to Dutch contractor Allseas…
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