Santos Ltd

Santos Limited is an oil and gas production and exploration company based in Adelaide, Australia. Santos has interests in oil and gas assets located across Australia and Asia, including the Cooper Basin, Queensland and New South Wales, Papua New Guinea (PNG), and Western Australia and the Northern Territory.

Santos is focused on opportunities across the natural gas value chain, including exploration and appraisal, development, production, transportation, and marketing. The company also has a developing business in carbon capture and storage as well as other emissions reduction technologies. Santos’ flagship assets include interests in Gladstone LNG (GLNG), Papua New Guinea LNG, and the Barossa gas project offshore Northern Australia.

Santos has 2P reserves of over 1,100 mmboe and produced 45 mmboe in the first half of 2023. The company has several major projects under development, including the Barossa gas project to backfill Darwin LNG and the Moomba carbon capture and storage project, both located offshore Northern Australia. Santos also has interests in the Pikka oil development on Alaska’s North Slope, which is expected to commence production in 2026.

In the first half of 2023, Santos reported revenue of US$3 billion, EBITDAX of US$2.1 billion, and net profit after tax of US$790 million. The company pays regular dividends to shareholders.