Santos announced completion of the sale of a 12.5 per cent interest in the Barossa project to JERA following the completion of all regulatory approvals.

Cash proceeds to Santos at completion were US$327 million.

The Barossa gas and condensate project to backfill Darwin LNG was 33 per cent complete at the end of March and remains on schedule and budget for first production in the first half of 2025.

Participants in the Barossa project are Santos (50 per cent and operator), SK E&S (37.5 per cent) and JERA (12.5 per cent).

About Santos

Santos is a leading supplier of natural gas, a fuel for the future providing clean energy to improve the lives of people in Australia and Asia.
Santos is already Australia’s biggest domestic gas supplier and aims to be a leading Asia-Pacific LNG supplier. For more than 65 years, Santos has been working in partnership with local communities, providing Australian jobs and business opportunities, safely and sustainably developing Australia’s natural gas resources, and powering Australian industries and households.
With its origins in the Cooper Basin, Santos has one of the largest exploration and production acreages in Australia and extensive infrastructure and is committed to supplying the domestic markets, unlocking resources and driving value and performance.

About JERA Co., Inc.

JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in LNG and other fuel resource projects and fuel procurement, through fuel transportation to power generation. Established in 2015, JERA is an equal joint venture of two major Japanese electric companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company. JERA’s mission is to supply power and energy on a globally competitive basis, by effectively developing and managing its portfolio of energy chain assets and continuously optimizing its business.