Santos to Focus Growth Investment on LNG, Oil to Develop Tier-1 Alaska, Papua New Guinea Basins

MT Newswires Live

05/26

Santos (ASX:STO) is set to focus growth investment on liquefied natural gas (LNG) and oil to develop tier-1 basins in Alaska and Papua New Guinea, as well as fully appraise Australia's Beetaloo and Bedout basins, according to a Tuesday Australian bourse filing.

Santos' Alaskan crude oil is expected to be sold to Asian refineries. Its Pikka phase one project in Alaska is expected to establish cash flow and deliver 80,000 gross barrels of oil per day on plateau.

The Nanushuk Drill Site C is fully appraised and ready for a final investment decision within the year.

The firm's shares fell 1% in recent trading on Tuesday.

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