Australia's Santos selling gas projects - report

Wed May 20, 2009 11:18pm BST
 
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SYDNEY, May 21 (Reuters) - Australian oil and gas firm Santos Ltd (STO.AX) has put four offshore Australian gas projects up for sale as it seeks to focus on other liquefied natural gas (LNG) projects, the Australian Financial Review reported on Thursday.

Citing industry sources, the paper said several indicative offers for the projects, worth in total several hundred million dollars, had been received, with final bids due in early June.

The paper said likely bidders included Italian energy firm Eni (ENI.MI), ConocoPhillips (COP.N), Royal Dutch Shell (RDSa.L) and Japan's Inpex (1605.T), along with several Chinese companies.

The projects on sale are the Evans Shoal, Petrel, Tern and Frigate assets off Darwin, it said. Citigroup (C.N) is advising Santos on the sales, the paper added. (Reporting by Jonathan Standing; Editing by Mark Bendeich)

 

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