Page 22 - AsianOil Week 01 2021

AsianOil NEWS IN BRIEF AsianOil

completion of this additional transaction, over “Completion of the SK E&S sell-down is now good potential for CSG production.
the last 12-months, the Company has received well advanced with consent from Bayu-Undan/ The results of both Nyanda-7 (as announced
$33.25 million in cash proceeds in relation to the DLNG Joint Venture and Timor-Leste regulator on 31 December 2020) and Nyanda-8 are
South Nicholson Basin Project, whilst retaining received before Christmas last year and we within the expected range based on data for
100% ownership and operatorship of ATP(A) are well progressed with Australian regulatory Nyanda-4, where testing in late 2020 recorded
1107. Receipt of these sale proceeds has enabled approvals. The sell-down will complete once the gas production at rates approaching 500,000
the Company to reduce outstanding long-term Final Investment Decision on Barossa is taken in cubic feet per day2. All three wells have
debt by 28% from $62 million to $44 million 1H 2021,” Mr Gallagher said. intersected good quality coals, with seams of
(reflecting additional accelerated amortisation SANTOS, January 5, 2021 similar thicknesses and depths, confirming the
of the Senior Secured Amortising Bonds after widespread presence of gas-bearing coal seams
the application of proceeds from the sale of the State Gas updates on and significant net coal within the Nyanda Focus
additional South Nicholson Basin interests to Area.
Santos. Nyanda-8 evaluation The next step in the appraisal of the
ARMOUR ENERGY, January 6, 2021 Nyanda Area is to undertake production
State Gas is pleased to advise the initial results testing of the two new Nyanda wells and
Bayu-Undan infill of the second well in its Phase 2 drilling recommence the production test at Nyanda-4.
campaign, Nyanda-8, at its 100%-owned
To this end, the Completion/Workover Rig
development FID Reid’s Dome Gas Project (PL 231) in the has commenced operations at Nyanda-4 to
Bowen Basin in Central Queensland.
enable the production test to recommence,
Santos, as operator of the Bayu-Undan Joint Nyanda-8 is approximately 2.2 km south- following which it will install pumps in both
Venture, today announced a Final Investment west of the successful Nyanda-4 well, and Nyanda-7 and Nyanda-8. All three wells are
Decision for the US$235 million Phase 3C together with Nyanda-7 (approximately anticipated to be dewatering by the end of
infill drilling program at the Bayu-Undan field 2.6km north of Nyanda-4 – see Figure 1), was January to enable gas production.
in the Timor Sea, offshore Timor-Leste. drilled as a coal seam gas (CSG) well as part The drilling rig is currently completing
The program comprises three production of the Company’s program to appraise the installation of casing at Nyanda-8, following
wells (two platform and one subsea) and Nyanda Focus Area1 within PL231 for early which the crew will demobilise while the current
will develop additional natural gas and development. La Nina weather event is at its peak. When an
liquids reserves, extending field life as well as Nyanda-8 reached the targeted Total Depth appropriate weather window opens, the crew
production from the offshore facilities and the of 1200m on 3 January 2021, following spud on will return and drill the proposed Aldinga-2 well
Darwin LNG plant. 29 December 2020. Wireline logs indicate the in the northern area of PL 231, and Serocold-3
Sanction of the project comes less than seven well has intersected 19.7m net coal with open in the central area.
months after Santos became operator of the fractures apparent on the image log, exhibiting STATE GAS, January 6, 2021
Bayu-Undan Joint Venture following completion
of the acquisition of ConocoPhillips’ northern
Australia and Timor-Leste assets.
The wells will be drilled using the Noble Tom
Prosser jack-up rig, with the first well scheduled
to spud in 2Q 2021, and production from the
first well expected in 3Q 2021.
Santos Managing Director and Chief
Executive Officer Kevin Gallagher said: “We are
delighted to be able to pursue an opportunity
that wasn’t on the table 12 months ago, which
will optimise field recovery, extend production
and deliver significant value to both the Bayu-
Undan Joint Venture and the people of Timor-
Leste.
“Only through a close and constructive
working relationship with the Timor-Leste
Government and our joint venture partners have
we been able to move so quickly towards our
shared goal of maximising value from the Bayu-
Undan field.
“This infill drilling program adds over 20
million barrels of oil equivalent gross reserves
and production at a low of cost of supply and
extends the life of Bayu-Undan, reducing the
period that Darwin LNG is offline before the
Barossa project comes on stream.”
Santos currently has a 68.4% interest and
operatorship in Bayu-Undan and Darwin LNG
which will reduce to 43.4% upon completion of
a 25% sell down to SK E&S.

P22 www. NEWSBASE .com Week 01 07•January•2021