AI assistant
SANTOS LIMITED — Capital/Financing Update 2021
Mar 25, 2021
65872_rns_2021-03-25_f35039f9-a3cd-4ec5-97cc-08e71417d504.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX / Media Release
==> picture [93 x 24] intentionally omitted <==
26 March 2021
Ningaloo Vision resumes production and prepares for Phase 2 Van Gogh oil
Santos today announced it has restarted production from the Ningaloo Vision Floating Production Storage and Offloading vessel following scheduled maintenance in Singapore.
The Ningaloo Vision, which ties in the Van Gogh, Coniston and Novara oil fields offshore Western Australia, has now commenced ramping-up its production again and is expected to achieve 10,000 barrels per day in the coming weeks.
Santos Managing Director and Chief Executive Officer Kevin Gallagher said the resumption of production comes as the company prepares for a second phase of infill drilling in the Van Gogh field, due to begin in the second quarter this year.
“Van Gogh Infill Phase Two is targeting around 10 million barrels gross reserves, with first oil scheduled in the fourth quarter this year,” Mr Gallagher said.
“Preparations for the three-well campaign, using the Valaris MS1 mobile offshore drilling unit, are tracking well, with drilling expected to start within weeks.
“I am pleased to report that the Ningaloo Vision is back on location and producing again, following a challenging dry dock campaign last year when it arrived in Singapore just as the nation was going into three months of lockdown and the maintenance workforce being among the hardest hit by a second wave of the coronavirus pandemic.
“The Ningaloo Vision’s return to production after a successful maintenance program sets the facility up for the next stage of new production from the Van Gogh oil field.”
Production from Van Gogh (WA-35-L) began in 2010, with the nearby Coniston and Novara oil fields tied back to the Ningaloo Vision in 2015 and 2016 respectively.
Santos has a 52.5% interest in the Van Gogh-Coniston-Novara project, which it operates. The remaining interest is owned by INPEX.
Ends.
This ASX announcement was approved and authorised for release by Kevin Gallagher, Managing Director and Chief Executive Officer.
Media enquiries James Murphy +61 (0) 478 333 974 [email protected]
Investor enquiries
Santos Limited ABN 80 007 550 923 GPO Box 2455, Adelaide SA 5001 T +61 8 8116 5000 F +61 8 8116 5131 www.santos.com
Andrew Nairn +61 8 8116 5314 / +61 (0) 437 166 497 [email protected]
Page 1 of 1