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ConocoPhillips, Santos push ahead with $500m plan to develop Barossa gas field

08 Mar 2018 1:24 PM | Sonia Harvey (Administrator)

ConocoPhillips and Santos are pushing ahead with their $500 million plan to develop the Barossa gas field off Australia's north coast to replace declining supplies for Darwin LNG, with Santos declaring that Sunrise gas has "virtually no chance" of being processed there despite this week's milestone treaty with Timor-Leste.

The treaty, signed in New York on Tuesday US time, only allows for gas from the Sunrise field to be processed in either Conoco's Darwin LNG plant or at a new LNG plant in Timor-Leste, which the Sunrise partners have always ruled out as too risky.

But Conoco and its partners in the Barossa venture, Santos and Korea's SK Group, are resolved on Barossa gas as the lead candidate to replace the declining gas from the Bayu-Undan offshore field to supply Darwin LNG, with the field to be empty by 2022-23.

Santos, which also owns a stake in Darwin LNG, believes without doubt that Barossa is "the only field that can provide certainty on backfill for DLNG and deliver gas when DLNG will need it in the early 2020s," said Bruce Clement, head of conventional oil & gas.

"As one of the owners of DLNG, we want that certainty and we want to know that gas is definitely on the way to keep that plant full as Bayu-Undan comes off plateau," Mr Clement said.

Read more here in the Financial Review.

Follow: @FinancialReview on Twitter | financialreview on Facebook


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