Category: <span>Papua New Guinea</span>

First Quarter Highlights The following results were achieved compared with the 1998 first quarter: Production volume increased by 19.5% to 12.0 million boe Sales volume increased by 17.0% to 11.0 million boe Sales revenue increased by 13.6% to $181.8 million Comment by Mr Ross Adler, Managing Director: Production, sales and revenue all grew strongly during…

Record Sales Mitigate Oil Price Impact Santos today announced an after tax operating profit for the 1998 full year of $176.3 million, a reduction of 14.5% on the record 1997 earnings. Record production and sales volumes mitigated the impact of the fall in the average oil price received of 23.6% in Australian dollar terms. This…

Santos Full Year Profit Of $176 MillionRecord Sales Mitigate Oil Price Impact Santos today announced an after tax operating profit for the 1998 full year of $176.3 million, a reduction of 14.5% on the record 1997 earnings. Record production and sales volumes mitigated the impact of the fall in the average oil price received of…

1998 Annual Report

First Santos Victorian Gas Production Santos Limited has announced that it expects to commence its first Victorian gas production in June this year. This follows the completion of a gas sales agreement with the Victorian Governments Gascor Pty Ltd. This is Santos first direct contract with a customer in Victoria. Gas will be supplied from…

Fourth Quarter Highlights The following results were achieved compared with the 1997 fourth quarter: Production volume increased by 14.5% to 12.3 million boe Sales volume increased by 21.4% to 12.5 million boe Sales revenue increased by 10.8% to $217.6 million Full Year Highlights Full year highlights compared with 1997 are as follows: Production volume increased…

Third Quarter Highlights The following results were achieved compared with the 1997 third quarter: Sales revenue increased by 2.6% to $211.3 million Sales volume increased by 11.6% to 12.5 million boe Production volume increased by 17.8% to 12.3 million boe Comment by Mr Ross Adler, Managing Director: It is pleasing that sales revenue has increased…

Victorian Gas Situation In response to media queries, Santos Ltd confirms that gas from the South Australian Cooper Basin is being supplied by AGL to Victorian retailer Energy 21 through the interconnection recently completed between NSW and Victoria. Supply of gas to Victoria commenced on Friday 25 September 1998. Commenting, Santos Managing Director Mr Ross…

Santos Appoints General Manager – Petroleum Development and Planning Santos announces that Dr Ashok Khurana has been appointed General Manager Petroleum Development and Planning. Dr Khurana has more than 30 years international experience in the petroleum exploration and production industry, including 12 years experience in technical management positions, mainly with Esso Australia Ltd and Esso…

EWING BANK 994 #1 OIL DISCOVERY Santos Ltd announces today that its USA subsidiary, Santos USA Corporation, has encountered an estimated 185 net feet (true vertical depth) of oil pay in three separate zones between 7,133 and 12,956 feet (measured depth) in Ewing Bank Block 994. The Ewing Bank 944 # 1 well is located…

Santos today announced an after tax profit for the 1998 first half of $84.2 million, a decrease of 17.7% on the 1997 first half result of $102.3 million. The result reflects a reduction in the price of crude oil, mitigated by solid operational performance. Production volumes for the first half of 1998 increased by 5.5%…

Santos Interim Profit Santos today announced an after tax profit for the 1998 first half of $84.2 million, a decrease of 17.7% on the 1997 first half result of $102.3 million. The result reflects a reduction in the price of crude oil, mitigated by solid operational performance. Production volumes for the first half of 1998…

Second Quarter Highlights The following results were achieved compared with the 1997 second quarter: Production volume increased by 5.7% to 10.9 million boe Sales volume increased by 0.9% to 10.7 million boe Sales revenue decreased by 7.4% to $180.4 million Comment by Mr Ross Adler, Managing Director The 5.7% increase in production positively reflects a…

Santos Ltd announces that an agreement has been entered into with Petrobras UK Limited for the sale of Santos Europe Ltd. The effective date of the sale is 1 January 1998 and, subject to customary regulatory approval, settlement will take place on 30 June 1998. The net value of the sale to the Santos Group,…

In response to a media report that Santos has agreed to sell its UK petroleum assets, Santos Ltd advises that the sale process is proceeding in accordance with the timing outlined in its announcement of 15 January, 1998. This indicated that the sale process was expected to be concluded approximately mid year. The Company will…

ANNUAL GENERAL MEETING The Santos Annual General Meeting was held in Adelaide today with the Chairman Mr John Uhrig and the Managing Director Mr Ross Adler addressing shareholders. CHAIRMAN’S ADDRESS 1997 Result Mr Uhrig described 1997 as being a good year for the company. Sound financial results were achieved, the ordinary full year dividend was…

First Quarter Highlights The following results were achieved compared with the 1997 first quarter: Production volume increased by 5.3% to 10.1 million boe Sales volume increased by 2.2% to 9.4 million boe Sales revenue decreased by 11.7% to $160.1 million Comment by Mr Ross Adler, Managing Director The 5.3% increase in production was a pleasing…

Santos USA Corporation announced today that it was the high bidder on 6 blocks in the Central Gulf of Mexico following bidding in the US Offshore Continental Shelf Lease Sale No. 169 which was conducted by the US Federal Government on 18 March 1998. The award is subject to the US Minerals Management Service determining…

INCREASE IN SANTOS FULL YEAR PROFIT TO $206 MILLION RESERVES INCREASE TO OVER ONE BILLION BARRELS Santos today announced an after tax operating profit for the 1997 full year of $206.2 million, an increase of 5.3% on the 1996 result of $195.9 million. The increased profit was primarily the result of record production and sales…

Increase In Santos Full Year Profit To $206 MillionReserves Increase To Over One Billion Barrels Santos today announced an after tax operating profit for the 1997 full year of $206.2 million, an increase of 5.3% on the 1996 result of $195.9 million. The increased profit was primarily the result of record production and sales revenue.…

Fourth Quarter Highlights The following results were achieved compared with the 1996 fourth quarter: Production volume increased by 8.9% to 10.7 million boe Sales volume increased by 4.0% to 10.3 million boe Sales revenue decreased by 5.2% to $196.4 million Full Year Highlights Full year highlights compared with 1996 are summarised below. Each category represented…

Santos Ltd announced today that it intends to seek offers for the purchase of the groups oil and gas interests in the United Kingdom. The interests include up to: 32.8% in Anglia (a producing gas field) 2.9% in Pierce (oil fields under development 1.8% in Banff for production in 1998) 13.3% in Block 22/22c (includes…

INDONESIA PERMIT AWARD The Santos Group today announced that it has been awarded a 45% interest and Operator status in the Sampang Production Sharing Contract (PSC) in East Java, Indonesia. The Sampang PSC is located immediately offshore from Surabaya, Indonesia’s second-largest city, a major seaport and industrial centre The PSC contains a number of gas…

Third Quarter Highlights: The following results were achieved compared with the 1996 third quarter: Sales revenue increased by 10.3% to $205.9 million. Sales volume increased by 7.7% to 11.2 million boe. 67% success rate from exploration and appraisal wells drilled. Comment by Mr Ross Adler, Managing Director Increases in sales revenue and sales volume were…

In the Central Gulf of Mexico Lease Sale, Santos acquired a 20% Working Interest in nine (9) blocks with Murphy Exploration and Production Company (60%) as Operator, and Callon Petroleum Company (20%). The Eugene Island Block 335#1, operated by Murphy Exploration and Production Company, has been drilled to a total measured depth of 8,075 feet…

Santos Ltd today announced an initiative covering the low permeability gas discovered by Santos and its joint venturers in the Nappamerri Trough in the far north-east of South Australia. The area of the Nappamerri Trough is shown on the attached map and represents approximately 5% of Petroleum Exploration Licences Nos. 5 and 6. Santos Ltd…

Increase In Santos Interim Profit Santos today announced an after tax operating profit for the 1997 first half of $102.3 million, an increase of 15.5% on the 1996 first half result of $88.6 million. The improved profit performance was primarily the result of increased production and higher product prices. Managing Director, Mr Ross Adler, said…

Approval for Pierce Oil Field Development Santos announced today that Enterprise Oil plc, as Operator, has received approval from the UK Department of Trade and Industry (DTI) for the development of the Pierce oil field in the Central North Sea. First oil is planned in August 1998. Discovered in 1975, the field has proven and…