Developing the Dorado oil project will cost up to $2.2 billion, with front-end engineering and design to start next year, Santos revealed today, while forecasting $60 million of investment in Western Australia in 2020.
Australia's No.2 independent gas producer Santos Ltd has posted record quarterly production, boosted by its acquisition of Quadrant Energy assets, a day after it announced an '"exciting" gas discovery in the North West Shelf.
Santos, Australia's second largest independent gas producer, has reported a more than doubling in full-year underlying profit following the acquisition of Quadrant assets and higher realised prices
Carnarvon Petroleum has launched a $50 million share placement, with the funds set to primarily progress the commercialisation of the Dorado oil discovery, as part of its Phoenix project, located in the North West Shelf.
The country's number two independent gas producer, Santos, expects production to rise by up to 32 per cent this year, boosted by the acquisition of Quadrant assets.
The competition watchdog has cleared Santos' planned $2.9 billion takeover of Quadrant Energy despite concerns from some businesses in the Goldfields region about reduced competition for gas supplies.
Santos is set to become the dominant supplier of gas in the Western Australian domestic market after striking a deal to buy privately-owned Quadrant Energy for $US2.15 billion ($A2.95 billion).
Shares in Carnarvon Petroleum have regained some of yesterday's losses, after the oil and gas explorer revealed plans for its lesser known Buffalo project in the Timor Sea.
Paris-based upstream oil and gas engineering business Doris Engineering has set up shop in Perth as it prepares for the next wave of local major projects to get under way.
Carnarvon Petroleum has announced another oil discovery at its Dorado-1 well in the Carnarvon Basin, with the company's share price having more than quadrupled in the past month.
Shares in Carnarvon Petroleum have received another boost today after the company said it had discovered more oil and gas at Dorado-1 in the Carnarvon Basin.
Shares in Carnarvon Petroleum were up 57 per cent today after the company revealed its joint venture partner Quadrant Energy had made an oil discovery described as staggering.
Two groups aspiring to build gas processing projects on the Burrup Peninsula are aiming to fare better than many others have in the environmentally sensitive area.
SPECIAL REPORT: Gina Rinehart's Hancock Prospecting and its subsidiary, Roy Hill Holdings, have moved to the top of the Business News annual ranking of private companies in Western Australia, as their surging revenue put them ahead of building company BGC Australia.
SPECIAL REPORT: There have been some big moves among corporate finance dealmakers in Perth, who worked on more than 850 transactions worth nearly $25 billion in 2017.
Flexible workspaces, residential-like interiors and lighting matched to the body's circadian rhythms are some of the design elements influencing commercial building fitouts in Perth.
Oil and gas giant Inpex will hang its logo 24 storeys above the Perth CBD, after confirming it will stay put at 100 St Georges Terrace, one of two new leases covering 20,000 square metres in the ISPT-owned building.
Hancock Prospecting is poised to become Western Australia's biggest private company after a investment and acquisition spree in iron ore and agribusiness which is expected some time this year to push its revenue past that of the incumbent number one for the past 12 years, home builder BGC. A 2018 reranking appears certain following research for the Business News Private Companies list published today in a special report.
Four Western Australian projects will be included in a planned spin-off from energy player Santos in a bid to increase cash flow and cut debt, including facilities at Thevenard and Barrow islands.
Singapore-based Mitra Energy has completed the $US10 million ($A13.3 million) purchase of the Stag oil field off the Pilbara coast, but is still awaiting regulatory approval to take over as operator.
A short term domestic gas contract between Woodside Petroleum and electricity generator Synergy is the first such deal since the North West Shelf Venture partners moved towards separate marketing of their production.
An increase in office vacancies in Perth's CBD has shifted the market dynamic clearly in favour of tenants, but despite a historically high level of empty floors, there is little choice for companies that need a lot of space.
Global accounting giant KPMG and insurance group CGU have joined a host of firms searching through Perth's 400,000-plus square metres of vacant office space for new homes.
Special Report: The head of Japanese company Inpex's Australian operations says Australia remains a very attractive investment destination, and has suggested the company's Ichthys project could be expanded when conditions are right.
SPECIAL REPORT: Western Australia's next major greenfields liquefied natural gas project could be a decade away after Woodside last month decided against further progressing its Browse floating LNG facility.
The Chamber of Commerce and Industry of WA's Energy Apprenticeships Group has kicked off with 16 process operator apprentices to begin their four-year training today.
Carnarvon Petroleum has acquired a 35 per cent stake in Quadrant Energy's Barrow sub-basin oil project, and has committed $10 million towards a drilling program scheduled for June.
Local company Bhagwan Marine has won a contract to provide its services to Quadrant Energy's operations in the North West Shelf for an undisclosed sum.
Santos and Quadrant Energy have signed a deal for the sale of the Stag oil project in the Carnarvon Basin to Malaysian company Sona Petroleum for $US50 million ($A70 million).
Norwegian company Yara International has moved to full ownership of the giant ammonia plant built by Pankaj Oswal in the Pilbara, paying a price that reflects the expected impact of higher gas prices in future.
