Santos Ltd. has released its Annual Reserves Statement, reporting proved plus probable (2P) reserves of 1,484 million barrels of oil equivalent (mmboe) at the end of 2025. This figure reflects an increase of 13 mmboe before production compared with 2024, primarily attributed to additions in the Cooper Basin and Papua New Guinea assets. The company stated that its 2P reserves life is 17 years and noted a 95 per cent 1P reserves replacement rate. Developed reserves account for 62 per cent of total 2P reserves, with 40 per cent of total 2P reserves held in international assets. The 2P reserves mix comprises 83 per cent gas and 17 per cent liquids. Santos also reported a decrease in 2C contingent resources to 3,212 mmboe at the end of 2025, following the divestment of interests in the Petrel and Tern fields. The company’s 2P CO2 storage capacity stands at 8 million tonnes after the injection of 1 million tonnes since start-up. Additionally, 2C contingent CO2 storage resources increased by 24 million tonnes to 202 million tonnes in the Cooper Basin.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Santos Ltd. published the original content used to generate this news brief on February 11, 2026, and is solely responsible for the information contained therein.