Santos Completes Sale of 35% Stake in Kipper Field Off Australia to Mitsui

Santos Ltd. reported Thursday that the sale of a 35 percent non-operating stake in the Kipper gas field in the Gippsland Basin offshore Victoria, Australia to Mitsui E&P Australia Pty Ltd., announced in November 2015, has been completed.

"Santos advises that the sale has been completed and it has received the sale proceeds from Mitsui," the company said in a press release.

Mitsui E&P Australia, a unit of Japan's Mitsui & Co., Ltd., paid $358.2 million (AUD 520 million) in cash to Santos to complete the acquisition of the gas and condensate field. Other partners in the Kipper development are field operator Exxon Mobil Corp. and BHP Billiton Ltd., each holding a 32.5 percent interest.



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
 -  OMV Petrom, Hunt Oil Start Experimenta... (Dec 9)
 -  Waitsia JV Approves 2017 Development A... (Dec 9)
 -  SapuraKencana: Short-Term Industry Out... (Dec 8)
 -  Oil Flows From Otakikpo Marginal Field... (Dec 8)
 -  Plexus: More Cuts Expected (Dec 8)


Most Popular Articles

From the Career Center
Jobs that may interest you
Executive Director
Expertise: Business Development|Executive|Project Management
Location: Houston, TX
 
Associate Product Portfolio Manager Job
Expertise: Business Development|Marketing|Sales
Location: Denver, CO
 
Sr Counsel - Litigation and Legal Technology
Expertise: Legal
Location: The Woodlands, TX
 
search for more jobs

Brent Crude Oil : $54.33/BBL 0.81%
Light Crude Oil : $51.5/BBL 1.29%
Natural Gas : $3.75/MMBtu 1.35%
Updated in last 24 hours