Santos

While fighting cost inflation at its two giant LNG projects, at Gladstone (GLNG) and in Papua New Guinea (PNG LNG), Santos has confirmed that output will rise substantially between now and 2020. From current levels of about 50m barrels of oil equivalent (mmboe), output is set to soar to 90mmboe by 2020. For a company that has spent the past decade with stagnant production, it’s an important achievement. Existing fields are forecast to decline from 50mmboe to 30mmboe over that period but newly sanctioned projects, including the troublesome LNG projects as well as conventional projects in Vietnam and offshore...

While fighting cost inflation at its two giant LNG projects, at Gladstone (GLNG) and in Papua New Guinea (PNG LNG), Santos has confirmed that output will rise substantially between now and 2020. From current levels of about 50m barrels of oil equivalent (mmboe), output is set to soar to 90mmboe by 2020. For a company that has spent the past decade with stagnant production, it’s an important achievement.

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