PNG LNG Project Shines as Santos Reports High Reliability and Full Capacity Operations in First Quarter
Santos’ first-quarter performance has put the spotlight on its PNG LNG project, which achieved an impressive operational reliability rate of 99.8% during the March quarter. This remarkable consistency enabled the plant to operate at full capacity, supported by strong production from the Angore field in Hela Province. The company’s commitment to safety, efficiency, and community engagement in Papua New Guinea (PNG) further underscored its dedication to sustainable growth and local development.
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| PNG LNG Project Shines as Santos Reports High Reliability and Full Capacity Operations in First Quarter |
The energy giant continued to prioritize safety and operational excellence across its PNG operations, emphasizing the importance of fostering local employment and skill development. These efforts reflect Santos’ broader strategy to contribute positively to the communities in which it operates while maintaining its position as a reliable global energy provider.
Santos’ Managing Director and CEO, Kevin Gallagher, highlighted the company’s solid quarterly performance, noting steady production and robust cash flow generation across its portfolio. “Our business remains strong and resilient, with free cash flow breakeven oil prices projected to be below US$35 per barrel by 2025,” Gallagher stated. He attributed this resilience to Santos’ focus on operational efficiency and disciplined project execution, even amid volatile capital markets and fluctuating commodity prices.
Gallagher also emphasized the strategic advantages of Santos’ flexible LNG contract portfolio, which positions the company to capitalize on emerging market opportunities despite ongoing uncertainties. “While the current market environment presents challenges, we remain focused on delivering a 2025 marked by safety, efficiency, and productivity gains,” he said.
The CEO expressed confidence in Santos’ ability to navigate volatility, citing the company’s resilient asset base and advantageous geographical positioning in regions with growing demand for energy products. “Our portfolio is well-placed to meet the needs of dynamic markets, ensuring Santos remains competitive and responsive to global trends,” Gallagher added.
Santos’ first-quarter results not only demonstrate its operational strengths but also reaffirm its commitment to sustainability and community-focused initiatives in key regions like PNG. By balancing growth with environmental and social responsibility, Santos continues to pave the way for long-term success in an increasingly unpredictable energy landscape.
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