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Santos expands acreage position around Arcadia gas field

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LNG Industry,

The Queensland Government has announced that Santos, along with its partners GLNG JV and APLNG, are the successful bidders for the 86km² PRL2016/17-1A block, located directly west of the Arcadia gas field in the Bowen Basin.

EVP Exploration and New Ventures, Bill Ovenden commented, “Being adjacent to the planned Arcadia project means we will be able to leverage existing infrastructure, reduce development costs and produce more gas.”

Santos is on track to supply approximately 11% of the ACCC’s expected east coast gas demand in 2018.

Ovenden added, “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.”

“Santos appreciates the support of the Queensland government for the gas industry which is making Queensland communities stronger through jobs, small business opportunities, investment and economic growth.”

“Santos has been part of the Surat and Bowen Basin communities for more than 50 years and we want to continue to invest in the area for many years to come.”

Santos will hold a 22.85% interest in the joint venture along with partners Petronas (20.94%), TOTAL (20.94%), KOGAS (11.42%), and APLNG (23.85%).

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