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Be the first with the news that moves the market- Australian energy producer Santos (STO) has restarted production from the Ningaloo Vision Floating Production Storage and Offloading vessel following maintenance in Singapore
- Ningaloo Vision, which includes several oilfields offshore Western Australia, has now begun ramping-up its production again
- The vessel is expected to achieve 10,000 barrels per day in the coming weeks
- Resuming production comes as the company prepares for its second phase of infill drilling at the Van Gogh field
- On the market today, Santos is up 0.42 per cent and is trading at $7.11 per share
Santos (STO) has restarted production from the Ningaloo Vision Floating Production Storage and Offloading vessel following maintenance in Singapore.
Ningaloo Vision, which includes several oilfields offshore Western Australia, has now begun ramping-up its production again. It is expected to achieve 10,000 barrels per day in the coming weeks.
Resuming production comes as the company is preparing for its second phase of infill drilling at the Van Gogh field, expected to begin in the second quarter of 2021.
The second phase is targeting around 10 million barrels of gross reserves, with first oil scheduled in the fourth quarter of this year.
Managing Director and Chief Executive Officer Kevin Gallagher is pleased to start producing from Ningaloo Vision.
“I am pleased to report that the Ningaloo Vision is back on location and producing again, following a challenging dry dock campaign last year when it arrived in Singapore just as the nation was going into three months of lockdown and the maintenance workforce being among the hardest hit by a second wave of the coronavirus pandemic,” he said.
“The Ningaloo Vision’s return to production after a successful maintenance program sets the facility up for the next stage of new production from the Van Gogh oil field,” he added.
On the market today, Santos is up 0.42 per cent and is trading at $7.11 per share at 12:44 pm AEDT.
