PERTH (miningweekly.com) - Oil and gas major Santos has approved a A$490-million investment into its Fletcher Finucane oil project, offshore Western Australia.
CEO David Knox said the development approval of Fletcher Finucane had come little more than six months after the discovery of the Finucane South field, reflecting a rapid transition from exploration to development.
“This is a great achievement,” he noted.
The Fletcher Finucane project would be developed through a three-well, sub-sea tie-back to the existing Santos-operated floating production, storage and offloading facility at Mutineer Exeter.
First oil production is expected in the second half of 2013, at an estimated average gross production rate of 15 000 barrels a day, for the initial 12 months.
Mining Weekly.com
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