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Summary

Santos today announced the highest quarterly production in seven years, with production of 14.0 mmboe – 9% above the previous quarter.

Highest Santos quarterly production in seven years

Santos today announced the highest quarterly production in seven years, with production of 14.0 mmboe – 9% above the previous quarter.

Sales revenue of $1,060 million for the quarter increased 9% on the previous quarter and is up 16% compared to the first nine months of 2013.

Santos Managing Director and Chief Executive Officer David Knox said that the successful ramp-up of the PNG LNG project had driven the company’s highest quarterly production result since 2007.

Santos also reported that the GLNG project continues to deliver key construction milestones, including commissioning of the first upstream gas hub, first gas into the gas transmission pipeline, delivery of the final train 2 module and the completion of hydro-testing of the second LNG tank.

“GLNG is approaching 90% complete, it remains on budget and we are on track to deliver first LNG in 2015,” Mr Knox said.