With interests in Papua New Guinea since the late 1980s, PNG is a core element of Santos’ focused Asian growth strategy.
Santos is a foundation owner with a 13.5% equity interest in the PNG LNG project, operated by ExxonMobil. First LNG production started from PNG LNG on 29 April 2014, ahead of schedule, and the first cargo was shipped to Japan on 26 May 2014.
The project is expected to produce more than nine trillion cubic feet of gas over the estimated 30 years of operations, and will provide a long-term supply of LNG to four major Asian customers.
An active exploration campaign was conducted in 2014-2015, with drilling and seismic activity undertaken.
|Papua New Guinea||Santos interest (%)|
|Papuan Basin permits|
|PDL 1 (Hides)||241|
|PDL 3||15.9 2|
|Gulf of Papua permits|
1 The PNG LNG project is the unitisation of PDL 1 and other licences, Santos share is 13.5%.
2 SE Gobe Unit is the unitisation of PDL 3 & 4, Santos share in the unit is 9.4%.
3 Subject to government approval.