New Santos Organisation Structure 13^th Dec 2001

Santos Ltd Managing Director Mr. John Ellice-Flint today announced a new organisation structure for the Company, based around the three drivers of shareholder value in the oil and gas business: volume, growth and cost.

The structure also clearly reflects the geology of the Company’s interests and the location of its customers.

Mr. Ellice-Flint said, “We now have the strategy, the team and the organisation in place. We have a team with depth in the international oil business and the Australian gas business. We have an organisation that is being structured around the drivers of shareholder value. This marks two more milestones in our program to deliver growth to shareholders and we are looking forward to a busy 2002”.

Santos will be structured around the three value drivers:

1. Volume

• Central Australia: responsible for managing the Cooper Basin as a single business, which is expected to yield significant benefits. To be headed by Mr. Jon Young (General Manager) who joined Santos in 2000 after 20 years of experience with Mobil.
• Northern Australia: responsible for Santos’ Queensland, Northern Territory and Timor Sea interests and customers, to be headed by Mr. Rod Rayner (General Manager), previously Commercial Manager in the Queensland Business Unit.
• Western Australia: responsible for Santos’ West Australian interests and customers, to be headed by Mr Paul Moore (General Manager). Mr. Moore previously held upstream management positions with Fletcher Challenge Energy in Brunei and New Zealand.

2. Growth

• United States: responsible for Santos’ North American business, headed by Ms. Kathy Hogenson (President SUSAC). Santos’ US activities have grown significantly during 2001, with a number of discoveries followed by acquisition of a further interest in the Runnells field.
• Southern Australia: responsible for Santos’ Victorian interests and customers, to be headed by Mr. Rick Wilkinson (General Manager), previously Commercial Manager in the South Australian Business Unit. This business unit is responsible for growing the Company’s extensive interests onshore and offshore Victoria.
• Asia: responsible for Santos’ interests in Papua New Guinea and Indonesia, headed by Mr. Bob Hall (General Manager), supported by Mr. Chris Newton, the new President of Santos’ Indonesia, based in Jakarta. Mr. Newton was previously Managing Director of Fletcher Energy Brunei. The Asian Business Unit is particularly focussed on exploration and possible development in East Java and on monetisation of gas assets.

3. Service Quality and Costs

• Mr. John Reynolds, Executive General Manager Corporate, is responsible for group-wide shared services including Human Resources, Information Technology, Environment Health and Safety, and Corporate and Government Affairs, with particular regard to service quality and cost.

Other senior appointments announced include Mr. Bruce Wood, General Manager Gas Commercialisation and Marketing, Mr. Kevin Coates, General Manager Human Resources, Mr. Geoff Brown, Manager Strategic Planning and Performance and Mr. Wilf Lammerink, Manager Reservoir and Production Engineering.

Senior appointments previously announced were Mr. Jacques Gouadain, General Manager Exploration, Mr. Frank Jones, General Manager Drilling and Mr. Einar Vikingur, Chief Information Officer.