Oil and gas company Santos is on track to meet its 2013 production forecasts after enjoying a 10 per cent rise in 2012.

Santos on Thursday said production for the 2012 calendar year rose to 52.1 million barrels of oil equivalent (mmboe) from 47.2 mmboe in 2011.

Its annual sales revenues also hit a record $3.2 billion, up 18 per cent on 2011.

"Santos expects 2013 production to be in the range of 53 to 57 mmboe and capital expenditure (excluding capitalised interest) to be approximately $4 billion, both unchanged from guidance issued at the investor seminar in November 2012," Santos said in a statement.

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