Press

Santos GLNG Announces Final Investment Decision on A$400 Million Arcadia Project


Santos and our GLNG Partners will invest more than A$400 million in the 137-well Arcadia gas project in the Bowen Basin in Queensland's Central Highlands region.

The A$400 million Arcadia investment is in addition to the A$900 million we are investing in upstream developments in the Maranoa, Western Downs, Central Highlands and Banana regions of Queensland this year.

Santos Managing Director and Chief Executive Officer Kevin Gallagher said, “The Arcadia gas project will create up to 300 construction jobs and local business opportunities in the Central Highlands region, helping to sustain and boost the benefits of Santos' and GLNG's earlier investments.”

“This initial phase of the Arcadia development will at its peak deliver in excess of 75 TJ/day to the gas supply for the GLNG project. This is great news for both the domestic gas market and our LNG exports.”

The project, located near Injune, about 680km northwest of Brisbane, will involve drilling 137 new wells and constructing a 140 km gas and water gathering network, two 4G communication towers, a new compression station, a 4 ML per day water treatment plant, a 5 MW gas-fired power station, and associated roads and infrastructure.

Mr Gallagher said the decision to sanction the project follows a very successful 13-well pilot program which tested changes to the planned well design and operating philosophy.

“We have reduced our connected well costs in Queensland by more than 70 per cent since 2015 to become Australia's lowest cost onshore operator,” Mr Gallagher said.

"If you want to put downward pressure on gas prices, reducing the cost of supply is a good place to start.

“Santos will apply our low cost operating model, and a well design and water management approach tailored for the Arcadia field, to extract more gas for less money.

“Santos is delighted to support jobs and investment in regional Queensland and we want to continue to invest here for many years to come.”

Santos and our GLNG partners have already invested significantly in regional Queensland since 2011 and this new investment is a huge vote of confidence in the state.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit source site

https://santos.com/media-centre/announcements/sant...

SantosGLNGArcadiaArcadia ProjectArcadia Gas FieldBowen BasinAustraliaQueenslandonshoreGLNG Partnersupstream

More items from oilvoice


Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice


Posted 2 months agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 6 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 6 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 6 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11

Total Announces the Distribution of its Second 2018 Interim Dividend

The Board of Directors met on December 12, 2018 and declared  the distribution of a second interim dividend for the 2018 fiscal year of €0.64 per share, in accordance with the Board's decision of July 25, 2018, an amount equal to the first 2018 interim dividend and an increase of 3.2% compared to t ...

OilVoice Press - OilVoice


Posted 6 months agoPress > TotalDividend
All posts from oilvoice