Santos to buy northern Australian assets of ConocoPhillips for $1.39b

Santos to buy northern Australian assets of ConocoPhillips for $1.39b

FILE PHOTO: Logos of ConocoPhillips are seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017. REUTERS/Toru Hanai

ConocoPhillips has agreed to sell its northern Australian business to its partner Santos Ltd for $1.39 billion, in a deal that will boost the Australian oil and gas group’s output by 25%.

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