Agreement between Eni and Santos to cooperate in Australia and East Timor

Agreement between Eni and Santos to cooperate in Australia and East Timor

Eni promotes itself in Northern Australia and East Timor. The multinational energy company, through its subsidiary, Eni Australia Limited, has signed a new agreement with Santos in order to identify potential new areas of cooperation for the development of offshore fields in Northern Australia, synergies and sharing of existing infrastructure, as well as projects to capture, store and reuse carbon dioxide. In the reference area.

In detail, the companies are looking for opportunities for collaboration and infrastructure sharing between the Barossa project and the potential development of the Evans Shoal field, the potential expansion of the Darwin Gas Liquefaction Plant, as well as opportunities to expand the use of infrastructure and the scope of the Bayu-Undan project.

In northern Australia and East Timor, Eni and Santos are already involved in the Bio-Ondan gas and condensate field and in the associated gas liquefaction plant at Darwin El Eng. In northern Australia, Eni operates the Evans Shoal and Blacktip gas fields, while Santos is the operator of the Caldita-Barossa gas field and the Darwn Lng gas liquefaction plant with Tern gas and Petrel share.

The new partnership comes on the heels of the strategic line already announced by the Energy Group, which sees the company as carbon neutral by 2050 in all of its operations, operations and products, with the gas being increasingly removed from carbon, which will account for more than 90% of its production. In this context, the new cooperation with Santos represents a step forward to achieve the goal of decarbonizing upstream activities in Australia, in order to reduce carbon dioxide emissions.

“This agreement demonstrates the importance of adopting a synergistic approach that strengthens cooperation between the various actors in the sector,” Eni commented, noting that “this memorandum bears witness to the mutual ambition to consolidate alliances for sustainable development, in order to confront together. The challenge of energy transition and protection.” Environment and natural resource regeneration, a path that Eni has followed since 2014. ” Eni shares in Piazza Affari traded at € 9.95 (+ 0.25%), while Oil with WTI fell to $ 63.52 per barrel (-0.41%) and Brent crude at $ 66.42 per barrel (-0.51%). (All rights reserved)

Earl Warner

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