Australia’s Santos today issued its 2012 fourth quarter activities report for period ending 31 December 2012.
2012 production up 10%, record quarterly and annual sales revenue
Key activities during the period
Santos Chief Executive Officer David Knox said new producing assets such as Reindeer and Chim Sáo, combined with strong Cooper oil production, drove a 10% lift in Santos’ output in 2012.
“Higher oil production allowed us to capitalise on favourable prices this year delivering the highest sales revenue in the company’s history,” Mr Knox said.
“In 2012 we continued to deliver in our base business as well as laying the foundations for future growth. In Western Australia, we sanctioned the Fletcher Finucane oil project and made a material gas discovery at Crown. In the NT, we farmed-down Caldita Barossa and completed two farm-ins into prospective onshore acreage in the Amadeus/Pedirka and McArthur Basins.
“The Cooper Basin produced its highest oil output in three years and Australia’s first commercial shale gas, while we advanced plans for the Moomba infrastructure upgrade.
“In Asia, Chim Sáo delivered a significant boost to our oil production, the Wortel gas project in Indonesia was completed on budget, and we progressed the South Sumatra CSG opportunity.
“Construction progress on our LNG projects is pleasing with PNG LNG more than 70% complete and GLNG 45% complete. The projects remain on track for first LNG in 2014 and 2015 respectively,” Mr Knox said.
[mappress] LNG World News Staff, January 17, 2013; Image: Santos