Santos today welcomed the Gas Statement of Opportunities report released by the Australian Energy Market Operator (AEMO), which forecasts a 58 PJ gas surplus in the east coast domestic market in 2019. This surplus is equivalent to 10 per cent of total expected 2019 domestic gas demand. Last year AEMO forecast a 48 PJ gas…
Santos today announced further progress on the front end engineering and design (FEED) phase of the Barossa offshore project with the award of three major engineering contracts. Santos Managing Director and Chief Executive Officer, Mr Kevin Gallagher said “These contracts reaffirm Barossa’s position as the leading candidate for Darwin LNG backfill, with no alternative projects…
On the tenth anniversary of sponsoring the Aboriginal Power Cup, Santos has committed to continue its support for this important initiative for another three years. The Aboriginal Power Cup is achieving outstanding results that are directly linked to the “Close the Gap” target of year 12 attainment. The Aboriginal Power Cup is the Port Adelaide…
The GLNG project, in which Santos has a 30 per cent interest, has reached a major milestone, shipping its 200th LNG cargo from Curtis Island near Gladstone to Korea in northeast Asia. The vessel, YK Sovereign, docked at the Incheon terminal on Monday this week. Santos CEO Kevin Gallagher said the natural gas industry is…
Santos has partnered with the University of Adelaide to offer a national Indigenous program that promotes the benefits of a career in engineering. As part of the program, Santos and the University of Adelaide have established the Santos Karnkanthi Indigenous Engineering School, which will provide Aboriginal or Torres Strait Islander students in years 11 or…
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…
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…
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).…
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 CEO, Kevin Gallagher delivered the opening Plenary Address at the 2018 APPEA Conference.
Read the speech here
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 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…
Santos Chairman Mr Keith Spence and Managing Director & CEO Mr Kevin Gallagher address the 2018 Santos AGM in Adelaide.
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.…
Santos has successfully completed commissioning and start-up of the Scotia CF1 project in Queensland, ahead of schedule and under budget with initial full field production exceeding 40 TJ/day, in line with expectations. The project, situated in the Bowen Basin, 340km northwest of Brisbane, will supply about 70 TJ/day at peak production in late 2019, significantly…
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…
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…
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…
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.
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.…
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 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…
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…
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 has today released its 2017 Shareholder Review. See link below.
New strategy delivers 433% increase in underlying profit to US$336 million Santos Managing Director and Chief Executive Officer Kevin Gallagher said the company’s full-year results demonstrated a significant turnaround in business performance ahead of plan. “We have removed substantial costs, reported a material increase in underlying profit, generated significant free cash flow and reduced net…
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