Australia: Santos, Quadrant sell Stag field to Malaysian buyer

Malaysia’s Sona Petroleum will buy an offshore oil field in Australia from Santos and Quadrant Energy.

According to the company’s filing on Bursa Malaysia on Monday, Sona will buy a 100 percent interest in the Production Licence WA-15-L and Pipeline Licence WA-6-PL, containing the Stag oil field.

Santos owns 66.67 percent in the Stag field, with Quadrant, which is operator, owning the remaining 33.33 percent. Following the acquisition, for an estimated purchase price of $50 million, Sona will become the operator.

The Stag oil field, producing oil since 1998, is situated in the Dampier sub-basin of the Carnarvon Basin, offshore Western Australia and in a water depth of around 50 meters and approximately 60 kilometers offshore.

Upon the completion of the acquisition, which is subject to regulatory approvals, Sona plans to carry out further development of the Stag Oilfield to boost the production of the field, by drilling of infill production wells. The drilling of infill production wells involves the addition of new wells to the existing fields within the original well patterns to accelerate recovery of oil.

Oil from the Stag Oilfield is produced from horizontal wells and processed through a fixed central production facility platform with 50,000 b/d capacity, where it is then transported by pipeline to the FSO and loaded to shuttle tankers for shipment to North Asian customers.

 

Share this article

Follow Offshore Energy Today

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply