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Summary

Bayu Undan Participants Defer Offshore Gas Pipeline Decision

Phillips Petroleum, the Operator of the Bayu-Undan development project, and its co-venturers, including Santos, have announced their decision to defer indefinitely an investment commitment in a subsea pipeline proposed to transport natural gas from the Bayu-Undan field to Darwin. A copy of the announcement by Phillips on behalf of the joint venture is attached.

Commenting, Santos Managing Director Mr John Ellice-Flint said ” The Timor Sea has the potential for a world class gas project which would benefit both Australia and East Timor. A pipeline from Bayu-Undan to Darwin would be an important first step in realising this vision and we trust that the outstanding issues can be satisfactorily resolved”.

For a complete copy of the media release made by Phillips Petroleum Company use the download feature below.