Hydrocarbon Processing Copying and distributing are prohibited without permission of the publisher
Email a friend
  • Please enter a maximum of 5 recipients. Use ; to separate more than one email address.



Santos sees Exxon’s PNG LNG raising 2014 output

12.04.2013  | 

Santos will receive a boost from ExxonMobil’s LNG project in Papua New Guinea, which is scheduled to begin next year, and is looking to expand in the Pacific nation. Santos also is building the $18.5 billion Gladstone LNG project in Queensland, one of seven under construction in Australia to meet Asian demand.

Keywords:

By JAMES PATON

ADELAIDE (Bloomberg) -- Australian producer Santos expects output to rise as much as 12 % next year, driven by the start of a $19 billion natural gas project in Papua New Guinea.

Production will be 52 to 57 MMboe in 2014, the Adelaide-based company said today in a presentation. Santos said it will produce 51 MMbbls this year, down from its October forecast that it would produce at the low end of a 52 to 55 MMbbl range.

Santos will receive a boost from Exxon Mobil’s liquefied natural gas project in Papua New Guinea, which is scheduled to begin next year, and is looking to expand in the Pacific nation, CEO David Knox said on an investor webcast. Santos also is building the $18.5 billion Gladstone LNG project in Queensland, one of seven under construction in Australia to meet Asian demand.

Production is projected to climb to 80 to 90 MMbbls by 2020, it said. Santos’s operations include the Fletcher-Finucane oil project off Western Australia, the Chim Sao oil field in Vietnam and assets in central Australia’s Cooper Basin.

Today’s cut in the 2013 production forecast was the second time this year Santos had lowered its outlook. The company had originally forecast 2013 output of 53 to 57 MMbbls in November last year before cutting it in July, citing delays at projects in Asia and Australia.



Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Related articles

FEATURED EVENT

GasPro North America

Sign-up for the Free Daily HP Enewsletter!

Boxscore Database

A searchable database of project activity in the global hydrocarbon processing industry

Poll

Should the US allow exports of crude oil? (At present, US companies can export refined products derived from crude but not the raw crude itself.)


68%

32%




View previous results

Popular Searches

Please read our Term and Conditions and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2014 Hydrocarbon Processing. © 2014 Gulf Publishing Company.