Santos Moves Forward With $504M Offshore Oil Project

Law360, New York (January 13, 2012, 1:30 PM EST) -- Santos Ltd. has pulled the trigger on a $504 million oil project off the coast of Western Australia and expects the black gold to start flowing at an initial rate of 15,000 barrels a day by late 2013, the fossil fuels producer said Friday.

Adelaide, Australia-based Santos plans to get at the oil from the Fletcher Finucane project, located in the Carnarvon Basin off Australia's northwest coast, through three wells that tie back to its Mutineer Exeter production facility, it said.

"Oil production from Fletcher Finucane...
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