Tap Oil

The Finucane oilfield was to add 1,000 barrels of oil per day (bopd) to output, but Tap Oil has instead decided to sell the asset pre-production for $22m to joint venture partner Santos. This is the second time within two months Tap has sold a newly discovered asset. This time, however, Tap is a reluctant seller. Production at Finucane involved piping resources into existing facilities at the Santos-operated Mutineer-Exeter project off the coast of Western Australia. Indeed, the proximity to existing infrastructure was one of the key attractions of the discovery. As the only partner without a stake in Mutineer-Exeter, however,...

The Finucane oilfield was to add 1,000 barrels of oil per day (bopd) to output, but Tap Oil has instead decided to sell the asset pre-production for $22m to joint venture partner Santos. This is the second time within two months Tap has sold a newly discovered asset.

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