Santos to Invest A$379m in Australian Gas Project

Australian oil and gas explorer Santos is to spend A$379m on the Reindeer gas project, offshore Western Australia.

Santos is to fund its share of the A$840m project, located in the Carnarvon Basin within exploration permit WA-209-P, it announced today.

Gas will be produced via an unmanned, minimum facility wellhead platform located in 65m of water, says the company.

Santos has a 45 percent interest in the Reindeer gas project, with the remaining 55 percent held by operator Apache Northwest.

First gas is expected at the end of 2010, says Santos.

By Ozge Ibrahim