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Santos GLNG announces final investment decision on A$400 million Arcadia project

Santos and our GLNG Partners will invest more than A$400 million in the 137-well Arcadia gas project in the Bowen Basin in Queensland’s Central Highlands region. The A$400 million Arcadia investment is in addition to the A$900 million we are investing in upstream developments in the Maranoa, Western Downs, Central Highlands and Banana regions of…

Santos rejects Harbour proposal and terminates discussions

On 21 May 2018 Santos received a conditional binding offer from Harbour Energy Ltd (Harbour) to acquire 100 per cent of Santos shares by way of a scheme of arrangement at a cash price of US$5.21 per share (currently equivalent to A$6.861 per share) (Final Proposal). Harbour indicated that it would be willing to increase…

Revised Harbour Energy proposal (1)

Santos advises that on 21 May 2018 it received a revised binding, conditional proposal from Harbour Energy Australia Pty Ltd (Harbour) to acquire 100% of Santos shares by way of a scheme of arrangement for consideration of US$5.21 per share (equivalent to A$6.95 per share based on an exchange rate of 0.75) (Revised Harbour Proposal).…

Revised Harbour Energy proposal

Santos advises that it has received a binding, conditional proposal (Revised Harbour Proposal) from Harbour Energy Australia Pty Ltd (Harbour) to acquire 100% of Santos shares by way of a scheme of arrangement for consideration equivalent to US$4.98 per share. This follows receipt of an indicative and conditional proposal (announced on 3 April 2018) and…

Santos update regarding ENN

Santos refers to its ASX Release on 15 May 2018 which made reference to media reports regarding a preliminary agreement between ENN and Harbour Energy (Harbour) which followed an announcement by ENN Ecological Holdings (ENN) to the Shanghai Stock Exchange. ENN has since advised Santos that media reports were not an accurate translation of their…

Santos notes media speculation

On 3 April 2018, Santos announced the receipt of an unsolicited, non-binding, indicative and conditional proposal (Harbour Proposal) from Harbour Energy (Harbour) to acquire 100% of Santos shares for US$4.981 per share. Santos agreed to engage further with Harbour and allowed it the opportunity to undertake confirmatory due diligence. Santos notes media speculation that ENN…

Santos announces sale of non-core Asian assets

Santos today announced the sale of its non-core Asian portfolio to Ophir Energy plc (Ophir) for US$221 million. The sale is consistent with Santos’ strategy to realise value from its late-life non-core assets and will result in Santos making country exits from Vietnam, Indonesia1, Malaysia and Bangladesh. The assets sold to Ophir include the following…

PNG LNG resumes normal production

Santos has been advised by ExxonMobil, the PNG LNG operator, that LNG train 2 has safely restarted and the plant is operating at normal production rates. Exports of LNG have also resumed. Production has been gradually increasing since the Hides gas conditioning plant and one train at the PNG LNG plant restarted earlier this month.…

2018 First Quarter Activities Report

Santos Managing Director and Chief Executive Officer Kevin Gallagher said: “Santos’ first quarter results highlight the benefits of a diversified portfolio of natural gas assets underpinned by a disciplined operating model focused on cash generation.” “In the first quarter of 2018, we generated $246 million in free cash flow, reduced net debt by 8% to…

NT decision to allow onshore gas exploration to restart in 2019

Santos welcomes the Northern Territory Government’s decision to implement the prerequisite conditions for recommencement of onshore gas exploration by the end of 2018. The independent Scientific Inquiry into Hydraulic Fracturing has concluded the challenges and risks associated with any onshore shale gas industry in the NT can be appropriately managed. Santos thanks all those from…

PNG LNG restarts LNG production ahead of schedule

Santos has been advised by ExxonMobil, the PNG LNG operator, that production of liquefied natural gas (LNG) has safely resumed following a temporary shutdown of operations after the severe earthquake in the region on 26 February. LNG exports are expected to resume soon. Santos Managing Director and Chief Executive Officer Kevin Gallagher said, “The safe…

Santos expands acreage position around Arcadia

The Queensland Government today announced that Santos, along with our GLNG JV partners and APLNG, are the successful bidders for the 86km² PRL2016/17-1A block, located directly west of our Arcadia gas field in the Bowen Basin. EVP Exploration and New Ventures, Bill Ovenden, welcomed the announcement. “Being adjacent to the planned Arcadia project means we…

Notice of Annual General Meeting 2018

Santos has today released its Notice of Annual General Meeting 2018.
The Santos AGM will be held at the Adelaide Convention Centre on Thursday, 3 May 2018 commencing at 10:00am ACST.

NOPSEMA approval puts Barossa firmly in the lead for Darwin LNG backfill

Australia’s offshore petroleum regulator has accepted the Barossa-Caldita Offshore Project Proposal (OPP), a major step in the development approval process. The National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has assessed the environmental impacts and risks of petroleum activities over the 25-year life of the Barossa project and accepted the Joint Venture’s project proposal.…

PNG LNG Update – 5 March 2018

Santos has been advised by the PNG LNG operator that following the earthquakes in the Southern Highlands and Hela Provinces during the week of 26 February 2018, preliminary assessments of damage to PNG LNG facilities indicate it may take approximately eight weeks to complete repairs and restore production. Santos has a 13.5% interest in PNG…

Santos donates US$200,000 to PNG earthquake disaster recovery effort

Santos will donate US$200,000 to aid agencies in PNG to help get urgently-needed food, water and medical supplies to more than 30,000 people isolated in small villages in the PNG Southern Highlands and Hela Provinces following last Monday’s earthquake. Santos Managing Director and Chief Executive Officer Mr Kevin Gallagher said, “Santos is deeply saddened by…

PNG earthquake update

Santos today advises that gas production at the PNG LNG Hides plant and the Kutubu gas facilities has been safely shut down as a precautionary measure following a major earthquake and a series of aftershocks in the Papua New Guinea highlands. The company has been advised by PNG LNG operator ExxonMobil PNG that no staff…

Santos GLNG to invest $900M in Queensland gas fields in 2018

Santos and our GLNG partners will make a massive capital investment of $900 million in upstream developments in the Maranoa, Western Downs, Central Highlands and Banana regions this year. As well as upstream developments around the Fairview, Scotia and Arcadia fields, this investment includes the first year of funding for the new $750 million Roma…

2018 Climate Change Report

Santos has today released its inaugural Climate Change Report, consistent with the G20 Taskforce on Climate-Related Financial Disclosure guidelines. See link below.

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