Barossa gas project : Santos wraps up sale of 12.5% stake to JERA

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Santos has wrapped up the previously announced sale of a 12.5% in the Barossa gas project to Japan-based JERA after securing all regulatory approvals.

The Australian oil and gas company got cash proceeds of $327 million following the sale.

The Barossa project is located in Australian waters, off the coast of the Northern Territory.

Santos wraps up sale of 12.5% stake in Barossa gas project to JERA

Santos wraps up sale of 12.5% stake in Barossa gas project to JERA. Photo courtesy of Danimations/Wikipedia.org.

According to Santos, the Barossa gas and condensate project to backfill the Darwin LNG plant was 33% complete at the end of March 2022 and is on track and within budget to achieve the first production in the H1 2025.

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Santos’ stake in the Barossa gas project has been now reduced to 50%. The other partners are SK E&S with 37.5% and JERA with 12.5%.

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