October 13, 2019 / 9:32 PM / a month ago

Australia's Santos to buy ConocoPhillips northern Australia business

Oct 14 (Reuters) - Australian oil and gas producer Santos Ltd on Monday announced the acquisition of ConocoPhillips northern Australia business for $1.39 billion.

ConocoPhillips’ northern Australia business has operating interests in the Darwin LNG, Bayu-Undan, Barossa and Poseidon gas assets.

The deal consideration has an additional A$75 million ($50.93 million) payment contingent on final investment decision (FID) on the Barossa asset. ($1 = 1.4728 Australian dollars) (Reporting by Devika Syamnath in Bengaluru; Editing by Daniel Wallis)

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