Business

Santos notches up record sales revenue as GLNG progresses

SANTOS has announced record sales revenue of more than $1 billion for the third quarter of 2013 as its GLNG project on Curtis Island continues to progress well.  

The record result was driven by the company's highest oil production in six years, strong oil prices and higher third party sales volumes. 

The company reported on Friday that construction was progressing well across all aspects of its GLNG project on Curtis Island, with the 200th CSG well for the year spudded in early October, the first Fairview wells connected to the new water processing infrastructure, completion of the clearing and grading of the mainland pipeline right-of-way and the raising of the second LNG tank roof.

Santos managing director and chief executive officer David Knox said the record sales revenue demonstrated the performance of the existing business at the same time as the company continued to progress the delivery of new projects and create opportunities for the future.

"Excellent progress continues to be made on our two major growth projects, with PNG LNG over 90% complete and GLNG over 65% complete. Both projects remain on schedule and capital cost estimates remain unchanged," Mr Knox said.

"We also continue to execute our strategy of focused growth in Asia, with the acquisition of an interest in the Ande Ande Lumut oil field offshore Indonesia and interests in exploration permits in Papua New Guinea."

The average gas price of $5.98/GJ for the September quarter was a record and 10% higher than the corresponding quarter, driven by higher gas prices in Western Australia and Indonesia, and higher LNG prices from Darwin LNG. 

Topics:  curtis island, gladstone business, glng, santos



What happens in Vegas could change this Gladstone teen's life

RED CARPET: Chauntelle Taylor is off to Las Vegas to compete in the Australian team for the MuscleMania comp.

YOUNG and ready to take on the world is exactly what she is about

Police to crack down after hoons take over Gladstone roads

IN HIS SIGHTS: Gladstone Police Constable Paul Norris is on the lookout for hoon drivers.

One officer booked 14 speeding motorists during his shift

Man, 41 'exposes himself' several times to fellow beachgoers

YESTERDAY police were called to Canoe Point and charged a man who, on several occasions, willfully exposed himself.

Police received a strange call yesterday afternoon.

Local Partners

Bonus point gets Dan and Carleen over the line on The Block

Dan and Carleen in their winning living and dining rooms in a scene from The Block.

BABY boomers win living and dining week as show hits halfway mark.

Olivia Wilde having a girl

Olivia Wilde revealed she is expecting a baby girl.

Michael Palin: Terry Jones dementia is 'painful' to see

Michael Palin has found Terry Jones' decline "painful to watch"

Daniel Radcliffe hoped for haircut anonymity

Radcliffe thought shaving his head would make him more anonymous

Jim Carrey slams 'shameful greed' of lawsuit

Jim Carrey has slammed the "shameful greed" of White's ex-husband.

'Highly unlikely' Brad Pitt will face prosecution

It is highly unlikely that Brad Pitt will be prosecuted

'Flex muscles': Gladstone suburb drops $120K

BUYERS are scooping unprecedented deals by “flexing their muscles at the table”

Few bright lights for property after mining downturn

The Gladstone Regional Council wants associated LNG companies like Bechtel to be apart of the EIS housing accommodation strategy from the outset of the projects and not mid-way through.

Tannum Sands continues to write its own property success story

Property 200m from ocean selling for just over $100K

BEACHCOMBER PARK: Work has started on a new $19.2 million development at Toogoom.

The estate's developer is offering huge discounts for early buyers.

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'

Market opens as Gladstone sellers drop prices to force sale

VENDORS are dropping the price on houses to force a sale.

First stages of $25 million housing development underway

New development on Madsen Rd - The Springs.

The blocks of land are much bigger than usual