Santos Ltd. has began up the Halyard-2 infill nicely, sustaining manufacturing within the Better East Spar discipline offshore Western Australia as Halyard-1 has been depleted.
Halyard-2 will ship an incremental 65 million customary cubic toes a day of pure gasoline to Valarus Island for processing through an present pipeline, in line with a web based assertion by the Australian gasoline and oil firm.
The nicely “is a beneficial short-cycle capex venture, delivering incremental low-cost volumes into the portfolio via to 2027, and supporting a discount in unit manufacturing prices in 2025”, Santos stated.
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Santos initially deliberate to drill a sidetrack to Halyard-1, which began manufacturing 2011, however opted for an entire alternative as a result of technical challenges, in line with the Setting Plan for Halyard-2 printed on the web site of the Nationwide Offshore Petroleum Security and Environmental Administration Authority.
Based on the plan Santos would additionally disconnect the prevailing Halyard-1 Christmas tree manufacturing tie-in and set up a long-term cap.
Halyard-2 will convert about 9 million barrels of oil equal (MMboe) of gross sales gasoline and condensate to confirmed and possible (2P) developed reserves, Santos stated.
A day earlier it up to date its reserve figures, reporting 2P volumes of 1.56 billion boe as of year-end 2024.
“Whereas additions throughout quite a few belongings offered an natural reserves enhance of 15 mmboe, there was a 30 mmboe discount arising from the sale of a 2.6 p.c curiosity in PNG LNG to Kumul Petroleum Holdings Restricted”, Santos stated.
Gasoline comprised 84 p.c of the whole determine, with the remainder liquids. Abroad belongings accounted for 41 p.c of Santos’ year-end 2P reserves.
In the meantime 2P contingent assets grew to three.34 billion boe.
Santos added, “We proceed to carry 2P CO2 [carbon dioxide] storage capability of 9 million tonnes and 2C contingent storage assets elevated by 47 million tonnes to 178 million tonnes within the Cooper Basin”.
In one other venture, Santos stated Wednesday the Barossa discipline improvement is 91 p.c full and on monitor to start out producing gasoline within the third quarter. Santos reached a optimistic closing funding choice on the venture 2021, securing a brand new supply for Darwin LNG. Barossa is predicted to increase the liquefaction facility’s life for round 20 years.
“Closing welds on the Darwin Pipeline Duplication are underway at present and when full will join the Barossa discipline to the Darwin LNG plant”, stated managing director and chief government Kevin Gallagher. “Three wells are drilled and accomplished. The fourth nicely is partially drilled and suspended for later completion. Manufacturing from these 4 wells can ship nameplate capability, materially derisking the venture”.
To contact the writer, e mail jov.onsat@rigzone.com
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