Eni and Santos have identified potential new areas for collaboration in the development of offshore fields in northern Australia, synergies and sharing of existing infrastructures, as well as CO2 capture, storage and reuse (CCUS) projects in the reference area.
Eni, through its subsidiary Eni Australia Limited, and Santos today signed a non-binding Memorandum of Understanding (MoU) to seek together opportunities for cooperation in the following areas of interest:
- optimization, synergies and sharing of infrastructures between the Barossa Project and the potential development of the Evans Shoal field, the possible expansion of the Darwin gas liquefaction plant, as well as opportunities to extend the use of the infrastructure and field of the Bayu- Undan;
- potential joint development of CO2 capture, storage and reuse (CCUS) plants, not only to support the assets owned by the two companies but also open to third parties, with the long-term objective of facilitating the creation of a hub for CO2 management;
- potential collaboration in new upstream projects regarding further opportunities in the area.
In northern Australia and East Timor, Eni and Santos are partners in the Bayu-Undan gas and condensates field and in the related Darwin LNG gas liquefaction plant. In northern Australia, Eni is the operator of the Evans Shoal and Blacktip gas fields; Santos is, among other things, operator of the Caldita-Barossa gas fields and the Darwin LNG gas liquefaction plant with a stake in the Tern and Petrel gas field.
The collaboration with Santos represents an important step for Eni in the path towards the decarbonisation of upstream activities in Australia, leveraging the skills of both companies, with the aim of reducing CO2 emissions. This agreement demonstrates the importance of adopting a synergistic approach that promotes cooperation between the various players in the sector. Eni has recently launched a new strategy, which will lead the company to be carbon neutral by 2050 in all its operations, processes and products. In the long term, gas - which will be increasingly decarbonised - will represent over 90% of Eni's production.
This memorandum lays the foundations and testifies to the mutual ambition to consolidate alliances for sustainable development, in order to face together the challenge of the energy transition, protecting the environment and regenerating natural resources; a path undertaken by Eni since 2014.
Eni has been present in Australia since 2000 and in East Timor since 2006.