Santos Acquires Interest in Patricia Baleen Development
Santos Ltd has acquired a 20% working interest in the Patricia Baleen development. The Patricia and Baleen fields are located in the OMV operated Production License VIC/L21, located 24 kilometers off the Victorian coastline adjacent to the town of Orbost.
Santos' Managing Director, Mr John Ellice-Flint said "The Patricia Baleen development will be Santos' first involvement in an offshore development in Victoria. Approximately 60 Petajoules of Patricia Baleen gas is already under contract, with a buyer option to take additional quantities at a later stage.
Santos' acquisition of this working interest enhances the Company’s position in the Gippsland Basin and complements Santos' recent increase in working interest in the Sole field (70%) and its existing offshore interests in the Kipper (20%) and Golden Beach (66.7%) fields.
The participants and their working interests in the development are: OMV Australia Pty Ltd (Operator) with 40%; Trinity Gas Resources Pty Ltd. with 40%; Santos with 20%.