Santos has released their first quarter results, announcing increased production and sales revenue, and strong progress on major projects.
Santos Managing Director and Chief Executive Officer David Knox said that the first quarter of 2014 saw the company build momentum for strong project delivery in the year ahead.
“The PNG LNG project is progressing ahead of schedule, with first LNG cargo expected for the middle of this year. The project is currently over 95% complete with first production of condensate from the Hides fields commencing in late March.”
“I am also pleased to report that GLNG continues to make good progress, remaining on budget and on track for first LNG in 2015. The project is now 80% complete, with all train 1 modules delivered to Curtis Island, all mainline pipeline in the ground, the marine crossing tunnel complete and the pipeline installed.”
“During the quarter, we also delivered the Peluang project in Indonesia ahead of schedule and on budget. Our other Asian project, the Dua oil project in Vietnam is progressing well and remains on track for first oil in mid-2014,” Mr Knox said.