Oct 14 (Reuters) - Australian oil and gas producer Santos Ltd STO.AX on Monday announced the acquisition of ConocoPhillips (NYSE:COP) COP.N northern Australia business for $1.39 billion.
ConocoPhillips' northern Australia business has operating interests in the Darwin LNG, Bayu-Undan, Barossa and Poseidon gas assets.
The deal consideration has an additional A$75 million ($50.93 million) payment contingent on final investment decision (FID) on the Barossa asset. ($1 = 1.4728 Australian dollars)