The Queensland Government said April 6 that Santos, along with its GLNG JV partners and APLNG, are the successful bidders for the 86 sq km (33 sq miles) PRL2016/17-1A Block, located directly west of its Arcadia gas field in the Bowen Basin.
“Being adjacent to the planned Arcadia project means we will be able to leverage existing infrastructure, reduce development costs and produce more gas,” Bill Ovenden, Exploration and New Ventures, executive vice president, said.
Santos is on track to supply about 11% of the ACCC’s expected east coast gas demand in 2018.
“Access to new and existing supply sources in Queensland as well as new supply sources in New South Wales and the Northern Territory is critically important to enable us to continue to deliver competitive gas to the east coast domestic gas market,” Ovenden added
Santos will hold a 22.85% interest in the joint venture along with partners Petronas (20.94%), Total (NYSE: TOT) (20.94%), Korea Gas Corp. (11.42%) and APLNG (23.85%).
Recommended Reading
Defeating the ‘Four Horsemen’ of Flow Assurance
2024-04-18 - Service companies combine processes and techniques to mitigate the impact of paraffin, asphaltenes, hydrates and scale on production—and keep the cash flowing.
Tech Trends: AI Increasing Data Center Demand for Energy
2024-04-16 - In this month’s Tech Trends, new technologies equipped with artificial intelligence take the forefront, as they assist with safety and seismic fault detection. Also, independent contractor Stena Drilling begins upgrades for their Evolution drillship.
AVEVA: Immersive Tech, Augmented Reality and What’s New in the Cloud
2024-04-15 - Rob McGreevy, AVEVA’s chief product officer, talks about technology advancements that give employees on the job training without any of the risks.
Lift-off: How AI is Boosting Field and Employee Productivity
2024-04-12 - From data extraction to well optimization, the oil and gas industry embraces AI.
AI Poised to Break Out of its Oilfield Niche
2024-04-11 - At the AI in Oil & Gas Conference in Houston, experts talked up the benefits artificial intelligence can provide to the downstream, midstream and upstream sectors, while assuring the audience humans will still run the show.