Santos has welcomed a beneficial ruling from the Queensland Supreme Court docket in its authorized proceedings in opposition to Fluor Australia over the Gladstone LNG venture.
The court docket has ordered Fluor to pay roughly A$692m to Santos and its co-venturers, with further quantities to be decided.
The dispute stemmed from a 2011 engineering and development contract for the Gladstone LNG venture’s manufacturing amenities.
Santos contended that Fluor unjustly claimed and acquired funds beneath the contract and sought to recoup these quantities, together with liquidated damages for venture delays.
Moreover, Santos aimed to implement a mother or father firm assure from Fluor Company.
On 14 July 2023, three referees, appointed by the court docket to overview the case, submitted their ultimate report, supporting Santos’ place on price restoration.
The court docket has now largely upheld the referees’ conclusions, confirming Fluor’s obligation to pay the substantial sum to Santos and its companions.
The ultimate quantity, which can embody curiosity and authorized prices, is anticipated to be confirmed within the upcoming weeks.
In associated information, Santos just lately prolonged its exclusivity interval with the XRG Consortium amid ongoing discussions relating to a proposed $18.7bn acquisition.
The consortium, led by XRG, a subsidiary of Abu Dhabi Nationwide Oil Firm, together with Abu Dhabi Improvement Holding Firm and Carlyle, is nearing the completion of its due diligence, as per the method and exclusivity deed signed on 27 June 2025.
In keeping with Santos, the XRG Consortium has not encountered any points that might lead it to retract its non-binding indicative proposal.
“Santos wins authorized battle in opposition to Fluor Australia on Gladstone LNG venture” was initially created and printed by Offshore Know-how, a GlobalData owned model.
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