Santos sells Victorian gas assets

Santos sells Victorian gas assets

Australian LNG player Santos agreed to sell its Victorian assets to Cooper Energy for a price of up to A$82 million (Approx. US$62.5 million).

With the sale, Santos exits offshore Victoria, the statement issued on Monday reads. Santos has already sold the Kipper gas field for A$520 million earlier in March.

The assets sold to Cooper Energy include 50 percent interest in the Casino-Henry gas project, 50 percent interest in the Sole gas field and the Orbost gas plant, a 10 percent in the Minerva gas field and gas plant and 100 percent interest in the Patricia-Baleen gas field.

In the first half of 2016 Santos’ share of production from these assets was 5.2 petajoules of sales gas.

The total cash consideration is A$82 million, comprised of A$62 million at completion and a further milestone payment of A$20 million upon the earlier of a final investment decision on the Sole gas project or the receipt of cash proceeds from any sell-down by Cooper Energy of any of its interest in the sale assets.

Completion of the transaction is expected in early 2017.

1 AUD = 0.762183 USD

Share this article

Follow LNG World News

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

Budapest LNG Summit 2019

The Budapest LNG Summit is a niche event focused on the up and coming LNG region of Central & Eastern Europe (CEE).

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >