Santos Ltd., Adelaide, has received tolling agreements to transport and process gas from its proposed Barossa gas-LNG project in the Timor Sea through existing Darwin LNG infrastructure. As prices for liquefied natural gas (LNG) cargoes in Asia bounce back from multi-year lows, Santos managing director Kevin Gallagher on Tuesday said the company would begin a drilling program involving three wells at the Bayu-Undan joint venture to develop additional reserves and sustain export volumes of the super-chilled fuel from its Darwin LNG processing plant. The deal was made in October 2019, but was announced on Thursday. In addition, Santos will receive around $120 million of cash flow related to these interests from Jan. 1 to Oct. 1, 2019. S Santos also receives the benefit of approximately US$120 million of cash flow relating to the interests from 1 January 2019 to 1 October 2019. Australian energy firm Santos has agreed a $390m deal to sell assets to South Korean energy group SK E&S. Cleanaway slides as CEO Vik Bansal steps down. Free cash flow was just over $US725 million for the full year, despite Santos' average oil price falling 34 per cent to $US71.99 a barrel while its average LNG price sank 35 per cent to $US6.39 per million British thermal units. He confirmed Santos' intention to give the go-ahead for construction of the Barossa offshore gas project in northern Australia this June half, providing a new source of gas for the Darwin LNG … 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. ... 6, 2021. Santos currently has a 68.4% interest and operatorship in Bayu-Undan and Darwin LNG which will reduce to 43.4% upon completion of a 25% sell down to SK E&S. The Galaxy S21 Ultra has a pen, Bucket-list getaways for 2021, from camping to camels and cruises, Forrest plans China visit and vaccinations for Fortescue travels, Rich Lister Cowin's plant-based sausages push, Aussie's tattoo-removal business inks $65m private equity deal. He confirmed Santos' intention to give the go-ahead for construction of the Barossa offshore gas project in northern Australia this June half, providing a new source of gas for the Darwin LNG plant. Santos today announced it had agreed to sell a 25% interest in Darwin LNG and Bayu-Undan to SK E&S for US$390 million with effect from 1 October 2019 with customary adjustments on completion. Joe Biden signed 15 executive orders winding back Donald Trump policies, warned staff they'd be fired if they disrespect others, and promised a new era of truth, in his first hours as President. Credit Suisse (Australia) Limited and J.B. North & Co. are acting as financial advisers to Santos and Allens is acting as legal adviser to Santos. Darwin LNG currently has 3.7mn tpy of capacity. ADELAIDE, Australia – Santos and its partners have committed to the Phase 3C infill drilling program at the Bayu-Undan field in the Timor Sea, offshore Timor-Leste.. ↑Darwin LNG Terminal, A Barrel Full, accessed April 2017 ↑ 2.0 2.1 Our Projects, ConocoPhillips Australia, accessed July 2017 ↑ Qatar Moves to Ensure LNG Dominance, Arab Gulf States Institute in Washington, April 17, 2017. The projected life of the Bayu-Undan field will be reached in 2022. 12, 2020 ↑ ASX/Media Release, Santos, Oct. 14, 2019 To achieve it, the company will have to keep testing the amounts that American viewers are willing to pay. Darwin on track to become national Santos gas hub after $2.2bn deal THE momentum towards the sanctioning of the $5 billion Barossa gas infill project 300km off the coast of Darwin has gathered pace with Santos’ announcing its $300 million Bayu-Undan infill drilling program Final Investment Decision yesterday. Santos is the leading Australian oil and gas exploration and production company in the Northern Territory, with a significant presence both onshore and offshore. [1] Santos also receives the benefit of approximately US$120 million of cash flow relating to the interests from 1 January 2019 to 1 October 2019. The plant boasts of having an above ground LNG tank, with a working capacity of 188,000 cubic meters, one of the largest of its time. Production at Santos' Western Australia assets rose 20% in the quarter on improving spot demand, while output from Bayu-Undan facility to Darwin LNG saw a … Santos will sell a 25% stake in the Darwin LNG facility and the Bayu-Undan gas field, offshore Northern Australia. The company’s partnership with the NT stretches back many years, having been the major supplier of gas to the local market and as the only Australian company in Darwin LNG. “Customer satisfaction and service is number one for me too,” says Alex Tsirbas, the new owner and manager of Trade Building Supplies in Darwin. Business. Production in 2020 of 89 million barrels of oil equivalent was 18 per cent higher than in 2019 and at the top end of the upgraded guidance Santos gave last month. “Santos continues to build alignment between the Darwin LNG and Barossa joint ventures. He signalled Santos will benefit from the jump in LNG spot prices this month, having 10 spot cargoes scheduled for shipment this quarter from its various LNG projects, which include GLNG in Queensland and PNG LNG in Papua New Guinea as well as Darwin LNG. 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