Santos Sees Rise in 2nd Quarter Production

Santos has reported a 2% rise in second quarter production over the first quarter of 2013.

Gas production of 51.7 PJ (8.9 mmboe) was 6% lower than the corresponding period, with higher production from Darwin LNG offset by lower production in the Cooper and Carnarvon Basins and Indonesia.

The company has reduced production guidance for 2013 by about 3% to 52 to 55 mmboe.

Santos highlighted that major growth projects are on track: PNG LNG is approaching 90% complete and on track for first LNG in 2014, and GLNG is over 60% complete and on track for first LNG in 2015.

The company has achieved significant milestones at the GLNG project, including 70 wells spudded during the quarter, the first LNG tank roof raise successfully completed, the first Train 1 modules installed on Curtis Island and an agreement signed with QGC to interconnect both projects’ major pipelines.