Santos right this moment outlined its plans to develop manufacturing to greater than 100 MMboe by 2025, virtually doubling present ranges of manufacturing.
Speaking on the firm’s Investor Day in Sydney, Santos Managing Director and CEO Kevin Gallagher stated the profitable supply of the transform-build-grow technique introduced to the market in 2016 had now positioned the corporate for disciplined progress.
Gallagher stated for the reason that starting of 2016, Santos’ technique has delivered:
- A diversified portfolio of 5 long-life pure fuel property producing free money movement at ~$40/bbl oil worth.Australia’s lowest-cost onshore operations.
- A robust steadiness sheet to help progress.
- The reinstatement of shareholder dividends.
- The sale of non-core property.
“Our technique has been to ascertain a disciplined low-cost working mannequin that delivers sturdy money flows via the oil worth cycle,” Gallagher stated.
“Subject to regulatory approvals, the just lately introduced acquisition of Quadrant Energy will additional scale back our breakeven oil worth and ship operatorship of a top quality portfolio of low-cost, long-life standard Western Australian pure fuel property.
“It would additionally give us a number one place within the extremely potential Bedout basin, together with the current vital oil discovery at Dorado.
“We are actually positioned for disciplined progress leveraging current infrastructure in all 5 of our property within the portfolio and are focusing on manufacturing of greater than 100 MMboe by 2025.”
This disciplined progress portfolio contains:
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- Barossa backfill to Darwin LNG – focusing on FID by the tip of 2019.
- PNG LNG growth and proposed farm-in to P’nyang.
- Cooper basin, GLNG and Eastern Queensland progress.
- Quadrant acquisition, together with Dorado oil.
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