Santos, GDF Shelve Bonaparte FLNG Development Option Offshore Darwin

Santos Limited announced Thursday that the company and France's GDF Suez S.A. will consider other potential development options for the Bonaparte LNG (liquefied natural gas) project in addition to the floating LNG concept to develop the Petrel, Tern and Frigate natural gas fields, located 155 miles (250 kilometers) offshore west of Darwin, Australia.

Among the alternative development options are a pipeline connection to Darwin.

"While the partners firmly believe the fields have material value, having been fully appraised, their future development using floating LNG technology, although technically robust as demonstrated during extensive pre-FEED (front-end engineering and design) studies, does not currently meet the companies' commercial requirements," Santos said in a press release.

As a result, the partners have decided against proceeding with the Bonaparte floating LNG project to the FEED phase at this point in time.

"Santos received a cash consideration of $200 million when the Bonaparte LNG joint venture was formed, and has received a full carry on study and development costs by GDF Suez," the company added.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)
 -  Proserv Secures Series of Services Dea... (May 23)
 -  BP Urges Engineers to Apply for Trinid... (May 23)
 -  CGG to Support Oman Industry Workers t... (May 23)
 -  Wood Group Engineers to Carry Out Sakh... (May 22)


Most Popular Articles

From the Career Center
Jobs that may interest you
Plant Manager- West Memphis, AR
Expertise: Field Service Tech|Production Operator|QA / QC / Inspection
Location: West Memphis, AR
 
Dry Plant Lead Operator/Dry Plant Operator III/Dry Plant Operator
Expertise: Refinery / Plant Operations Supervisor|Refinery / Plant Operator
Location: Kermit, TX
 
Wet Plant Operator III / Wet Plant Operator II
Expertise: Maintenance Technician|Refinery / Plant Operator|Supply & Distribution
Location: Kermit, TX
 
search for more jobs

Brent Crude Oil : $53.87/BBL 0.48%
Light Crude Oil : $50.73/BBL 0.79%
Natural Gas : $3.33/MMBtu 2.14%
Updated in last 24 hours