* Santos puts 4 offshore gas projects up for sale -paper
* Report says projects worth several hundred million
dollars (Adds details, background)
SYDNEY May 21 Australian oil and gas firm
Santos Ltd (STO.AX) has put four offshore Australian gas
projects up for sale as it seeks to focus on other liquefied
natural gas (LNG) projects, the Australian Financial Review
reported on Thursday.
Citing industry sources, the paper said several indicative
offers for the projects, worth in total several hundred million
dollars, had been received, with final bids due in early June.
The projects on sale are the Evans Shoal, Petrel, Tern and
Frigate assets off Darwin, the paper said. Citigroup (C.N) is
advising Santos on the sales.
Santos declined to comment on the report.
The Adelaide-based company, which is looking to raise up to
A$3 billion ($2.34 billion) to pay down debt and fund its share
of a LNG project, said last week it was looking to monetise
some non-producing gas assets in the Timor Sea.
The paper said likely bidders included Italian energy firm
Eni (ENI.MI), ConocoPhillips (COP.N), Royal Dutch Shell
(RDSa.L) and Japan's Inpex (1605.T), along with several Chinese
($1=1.285 Australian Dollar)
(Additional reporting by Fayen Wong; Editing by Mark
(Reporting by Jonathan Standing; Editing by Mark Bendeich)