Oil and gas major Santo has inked a letter of intent (LOI) to divest of a 12.5% interest in its Barossa project, in Northern Australia to project partner JERA.
The Barossa gas field sits within Santos’ Northern Australia portfolio, one of the company’s core long-life, natural gas asset regions. The project is currently in the front-end engineering design phase, which includes the floating production, storage and offloading (FPSO) facility, subsea production system and gas export pipeline.