Santos confirms JERA’s participation in offshore Barossa project
Dec. 9, 2021
Santos has signed an agreement to sell a 12.5% interest in the Barossa gas/condensate project in the Timor Sea to an Australian subsidiary of JERA.
(Courtesy Santos)
Schematic of the Barossa gas/condensate project.
Offshore staff
ADELAIDE, Australia – Santos has signed an agreement to sell a 12.5% interest in the Barossa gas/condensate project in the Timor Sea to an Australian subsidiary of JERA.
Following completion, expected during the first half of 2022, JERA will reimburse Santos for its share of capex on the project to date, with the total consideration likely to be around $300 million.
JERA has a 6.1% stake in the Darwin LNG complex that will receive Barossa’s production.
Santos expects first LNG from Barossa in the first half of 2025. The facilities comprise an FPSO, subsea production wells, supporting subsea infrastructure and a gas export pipeline connected to the existing Bayu-Undan to Darwin LNG pipeline.
