Santos sells its 40% operated interest in Evans Shoal to Eni for US$250 million
In late October 2011, Santos agreed to sell its 40% operated interest in the Evans Shoal fields (NT/P 48) to an undisclosed buyer for up to US$350 million. Eni was confirmed as the buyer on 29 November 2011. Santos will receive a cash consideration of US$250 million and a contingent cash payment of up to US$100 million. This extra payment is subject to the partners taking a final investment decision (FID) and is dependent on the level of 2P reserves confirmed at that point. In a ...