Australian energy giant Santos has allowed its option to acquire interest in Melbana’s Beehive permit lapse, prompting Melbana to look for other partners.
The WA-488-P permit, located offshore Australia, contains the Beehive prospect.
Melbana Energy said on Wednesday it had been advised by Santos that it had not concluded a farm-out of an interest in the permit by March 4, 2020 – the deadline by which it was required to do so.
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