Santos, Eni to share gas infrastructure
May 3, 2021 4:02:am
Summary The companies will look at sharing infrastructures associated with the gas fields offshore northern Australia, pipeline to Darwin and onshore associated gas processing.
by: Shardul Sharma
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Santos, Eni to share gas infrastructure
Santos on May 3 said it had signed a memorandum of understanding (MoU) with Italy s Eni to cooperate on opportunities in northern Australia and Timor-Leste. The areas of cooperation include sharing infrastructures associated with gas field developments around Barossa and Evans Shoal, pipeline to Darwin and onshore gas processing leading to LNG expansion developments.
The MoU also includes investigating options to re-purpose the Bayu-Undan facilities to extend the life of the project, including a carbon capture and storage (CCS) project, subject to the agreement of the Timor-Leste government.
Oz Santos Reports $357mn Net Loss
Feb 18, 2021 3:21:am
Summary
by: Shardul Sharma
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Oz Santos Reports $357mn Net Loss
Australian oil and gas explorer Santos on February 18 reported a net loss of US$357mn during the 12 months to December 31 thanks to lower oil prices. It had recorded a net profit of US$674mn in the previous year.
“The reported net loss after tax of US$357mn includes the previously announced impairments, primarily due to lower oil price assumptions,” it said. Despite the net loss, the company delivered an underlying profit, which removes one-time charges, of US$287mn, down 60% year/year.