Santos tips further growth PDF Print E-mail
Thursday, 22 November 2012 08:09

Oil and gas company Santos expects its production to rise in 2013 as new projects come online.

In a presentation to investors on Thursday, the company repeated its forecast for production in calendar 2012 to be within a range of 51 million barrels of oil equivalent (mmboe) to 55 mmboe.

Chief financial officer Andrew Seaton said production in 2013 was expected to rise to a range of 53 mmboe to 57 mmboe.

Production would be influenced by continued strong production from Santos' base business and the start-up of the Fletcher Finucane project off the coast of Western Australia in the second half of 2013, he said.

Production from the Chim Sao oilfield off the coast of Vietnam was expected to plateau, he added.

Santos' expenditure in 2013 was expected to be about $4 billion, he said.

The company recently cut its 2012 expenditure forecast to $3.5 billion.



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