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
Energy Transition in Motion (Week of Jan. 5, 2024)
2024-01-05 - Here is a look at some of this week’s renewable energy news, including a step forward for BP’s efforts to transform an old oil refinery into a biofuel facility.
Baker Hughes Marks Hydrogen Milestones
2024-01-29 - The energy technology company is involved with several hydrogen projects as it works to accelerate the hydrogen economy.
Energy Transition in Motion (Week of March 1, 2024)
2024-03-01 - Here is a look at some of this week’s renewable energy news, including Chevron’s plans for a solar-to-hydrogen facility in California.
Energy Transition in Motion (Week of Jan. 12, 2024)
2024-01-12 - Here is a look at some of this week’s renewable energy news, including a 2.4-gigawatt wind turbine order win for GE Vernova.
Verdagy Awarded $39.6MM DOE Grant for Electrolyzer Production
2024-03-14 - Verdagy will use the Department of Energy grant to accelerate the manufacture of e-dynamic electrolyzers for green hydrogen solutions.