Santos completed the acquisition of northern Australia operations of ConocoPhillips for $1.4bn.

Santos, an Australian energy company, completed the acquisition of northern Australia operations of ConocoPhillips, an American multinational energy corporation with its headquarters located in the Energy Corridor district of Houston, for $1.4bn. The acquisition delivers operated interests in long-life low cost gas assets including Darwin LNG, Bayu-Undan, Barossa and Poseidon. It also brings operatorship of a strategically located LNG hub with significant expansion potential and longer-term opportunities to monetise Santos’ material resources in the region. “This acquisition delivers operatorship and control of strategic LNG infrastructure at Darwin, with approvals in place supporting expansion to 10 mtpa, and the low cost, long life Barossa gas project. These assets are well known to Santos. It also continues to strengthen our offshore operating and development expertise and capabilities to drive growth in offshore northern and Western Australia.” Kevin Gallagher, Santos Managing Director and Chief Executive Officer.