Santos completes Kipper sale

Australian LNG operator Santos said it has completed the sale of its 35% non-operated interest in the Kipper gas field to a unit of Japan’s Mitsui.

Santos has received $520 million from Mitsui E&P Australia for the stake in the gas field located in the Gippsland Basin, offshore Victoria, the company said in a statement on Thursday.

The Kipper field holds about 620 billion cubic feet of recoverable gas and 30 million barrels of condensate/LPG.

It will be produced through subsea wells, coolers, and a manifold via a new looped pipeline laid on the seabed to the existing West Tuna platform, according to the operator of the Kipper field, ExxonMobil.

ExxonMobil and BHP Billiton hold each a 32.5% stake in the gas field.

LNG World News Staff