RE: Santos1 Jun 2024 14:11
More on the Santos meeting.
𝐅𝐚𝐫𝐨𝐥, 𝐃𝐢𝐥𝐢 - 𝐒𝐚𝐭𝐮𝐫𝐝𝐚𝐲, 𝟏 𝐉𝐮𝐧𝐞 𝟐𝟎𝟐𝟒
Today, Minister Francisco da Costa Monteiro held a meeting with Mr. Kevin Gallagher, CEO of Santos. They were joined by Mr. Gualdino da Silva, President of the National Petroleum Authority (ANP), and Mr. Rui Soares, President & CEO of TIMOR GAP, E.P.
Santos, as the operator of the Bayu Undan field and the largest investor in Timor-Leste, engaged in discussions that focused on Carbon Capture and Storage (CCS) initiatives and Production Sharing Contract (PSC) at Bayu Undan.
During the meeting, the Minister expressed satisfaction with the innovative ideas presented on CCS, noting the significance of the Bayu Undan CCS development. Mr. Gallagher, highlighted that the field is recognized as a world class reservoir for CCS implementation. Furthermore, discussions covered the declining production at Bayu Undan and explored strategies to extend its production, including the potential involvement of TIMOR GAP in the joint venture.
Minister Monteiro highlighted Timor-Leste's support of any initiatives to maximize the full extraction of Bayu Undan's resources, including continuation of production and expecting that TIMOR GAP as the national oil company of Timor-Leste is involved in the process.
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