Woodside seals Sangomar deal with FAR

Woodside has signed an agreement with FAR to acquire its share in the Sangomar oil development offshore Senegal. The Rufisque offshore, Sangomar offshore and Sangomar deep offshore (RSSD) joint venture comprises of Woodside (35 per cent), Capricorn Senegal (40 per cent), FAR (15 per cent) and Petrosen (10 per cent). As part of the sale …

FAR to sell Sangomar interest amid market challenges

FAR has advised that its financial plans for the Sangomar field development offshore Senegal, Africa have changed due to the impact of COVID-19 and low oil prices. The ASX-listed company plans to sell all or part of its 15 per cent working interest in the oil prospect due to the likelihood that it won’t be …

Oil Search LNG production drops after equipment damage

Its September production dropped from 6.88 million barrels of oil in June to 6.81 million barrels despite strong production rates in July. The marginally lower quarter was a result of reduced rates of liquids, following the detection of damage to one of the mooring chains at the Oil Search-operated offshore liquids loading facility in the Gulf …
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Cooper Energy finalises Minerva gas plant acquisition

The plant has been acquired from the Minerva joint venture participants – BHP Petroleum (90 per cent interest) and Operator, Cooper Energy (10 per cent interest) – following the end of production from the Minerva gas field in early September. Cooper and Mitsui have acquired the plant to process gas from the Casino, Henry and …

Santos upgrades 2025 production target

The new target, up from the 100 mmboe Santos set in 2018, represents a cumulative annual growth rate in production of over 8 per cent to 2025. Speaking at the company’s Investor Day in Sydney, Santos managing director and chief executive officer Kevin Gallagher said the execution of the company’s transform-build-grow strategy since 2016 had …

Woodside submits Sangomar development plan

The development and exploitation plan and exploitation authorisation request are the last major regulatory submissions required before final investment decisions (FIDs) can be made by each joint venture participant. JV partners Woodside, Cairn Energy, Far and PETROSEN are targeting their FIDs later this month, subject to the grant of an exploitation authorisation and relevant joint …

State Gas hard work pays off at Reid’s Dome project

Following the completion of the work-over preparing the Nyanda-4 well for production testing on November 27, 2019, State Gas has been installing the necessary surface facilities for the test. Installation works are nearly complete and production testing is expected to commence before the end of the week, the company reported. The production test will provide …

Karoon to exit Great Australian Bight

The company will instead focus on progressing a number of South American assets, according to chairman Bruce Phillips. Speaking at the company’s annual general meeting (AGM), Phillips said the company was focussed on ensuring its broader asset portfolio was appropriately sized for its capital capabilities and corporate values. “In Australia we have relinquished WA-314-P after …

Lakes Oil spuds Nangwarry-1 well

The Nangwarry-1 well is within Petroleum Exploration Licence (PEL) 155 in the South Australian portion of the onshore Otway Basin, 10 kilometres south of Katnook. The well is a 50:50 joint venture between Otway Energy (a subsidiary of Lakes Oil) and Vintage Energy. Drilling at the well will target two prospecting gas reservoirs, the Pretty …