Energy Club

Northern Territory

Eni sale off the table

06 Jan 2021 2:32 PM | Sonia Harvey (Administrator)

MORE ageing Australian assets are off the table after Eni has pulled the sale of its fields and associated infrastructure, apparently citing lower than expected offers. 

This follows ExxonMobil's decision to cancel the planned sale of its Bass Strait assets offshore Victoria late last year, after putting them up for sale in September 2019.  

The US giant was again apparently unhappy with the prices offered. In 2016 it tried and failed to sell its stake, though even in June last year Australian chief Nathan Fay was gung ho on the asset sale.  

Eni holds the Blacktip gas field offshore the Northern Territory, stakes in the Bayu-Undan gas field operated by Santos, which sanctioned a three-well infill drilling program two days ago to prolong the life of the declining asset, and the Darwin LNG plant it feeds. 

Source: Energy News Bulletin

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