07 jun: CPAs Turn More Cautious About U.S. Economy, Hiring Plans
07 jun: China Exim Bank Chief: No Hard Landing for China Economy
07-06-2012 06:21:00

Santos, ConocoPhillips Ink Deal With SK Unit On Gas Project

Relateret indhold

By David Winning and Min-Jeong Lee

SYDNEY--Santos Ltd. (STO.AU) and ConocoPhillips (COP) have agreed a deal worth up to US$520 million to sell a minority stake in the Caldita and Barossa gas discoveries offshore Australia to SK E&S, an unlisted gas unit of South Korea's SK Group.

The deal involves SK E&S purchasing a 37.5% interest in the two fields in the Timor Sea, with an option to buy an additional 12% stake following the drilling of three appraisal wells.

It means Santos and ConocoPhillips will reduce their stakes initially to 25% and 37.5%, respectively.

In a statement Thursday, Santos said the project partners expect to begin front-end engineering and design, or FEED, work in 2014. This planning work is important because it enables companies to get a clearer view on how much projects will cost to build and whether they will be feasible.

"We will look at the option of floating LNG as well as the possibility of a tie-back development to our existing LNG plant at Darwin, either as an expansion of those facilities, the back-filling of Bayu Undan when it comes off plateau or a combination of both," said John Anderson, Santos's vice president for Northern Territory and state of Western Australia.

SK Group plans to use any liquefied natural gas from the fields for domestic use, as South Korea completely relies on imports for its LNG requirements.

SK Group has been continuously expanding its investment in overseas resource development projects as the energy-deficient Asian country struggles to enhance its ability to meet its own needs.

It expects to spend an around KRW2 trillion (US$1.7 billion) on resource development projects this year, with potential destinations including Southeast Asia, Central Asia and Central and South America.

Write to David Winning at david.winning@wsj.com and Min-Jeong Lee at min-jeong.lee@dowjones.com

(END) Dow Jones Newswires

June 07, 2012 00:21 ET (04:21 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Tryg slår markedets forventninger med flere længder

28-01-2015 08:03:55
Tryg kom betydeligt bedre ud af fjerde kvartal af 2014 end ventet af analytikerne.Det viser regnskabet fra forsikringskoncernen onsdag morgen.Nettoresultatet la..

Intermail Q1: Overskud fordoblet trods dræn på toplinjen

27-01-2015 16:33:34
Intermail, der blandt andet producerer konvolutter, havde trods fortsat faldende omsætning overskud i første kvartal af det forskudte regnskabsår 2014/15.- I fø..

FLS-aktie ramt af dårligt nyt fra amerikansk branchekollega

27-01-2015 14:19:01
Vendingen inden for mineindustrien lader vente på sig, lyder det fra en af de store udstyrsleverandører, amerikanske Caterpiller, som i sit regnskab for 2014 sæ..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Bavarian/Aamund: Naturligt at sælge nu og sikre familie - NY
2
Aktier/middag: Rekordrusen synes overstået
3
Tirsdagens aktier: FLSmidth gravet ned da rekordrusen stoppede
4
Nordea Q4: Øger overskud og udbytte
5
DSV/Danske: Tror på mere endnu fra rekordhøj aktie

Relaterede aktiekurser

Santos FPO 7,90 4,5% Stigning i aktiekurs
ConocoPhillips 65,54 -0,4% Fald i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen
Sælg

Relaterede selskaber
Få adgang til information og anbefalinger af relaterede selskaber med PLUS pakken.

Du får adgang til 7 værdifulde investorværktøjer til investering.

Klik her og læs mere om PLUS pakken.

Copyright Euroinvestor A/S 2015  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
28. januar 2015 10:13:04
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20150121.1 - EUROWEB7 - 2015-01-28 10:13:04 - 2015-01-28 10:13:04 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x