Safety performance Safety performance Fatality on Saxon CSG (employees and contractors) drilling rig 185 on Rate per million 23 June 2013 hours worked Drilling operations 8 immediately stopped Internal and external Total…
Growth projects on track; record first-half sales revenue First-half production of 24.5 mmboe Record first-half sales revenue of 1.5 billion Net profit up 3% to 271 million All projects on schedule and capital cost estimates…
PNG LNG 2013 Half-year results Andrew Seaton CFO
Transformation becoming reality Clear growth outlook to 2016 and beyond Production 2H 2013 Fletcher Finucane, Cooper infill growth 2014 Dua, Peluang, PNG LNG 2015 GLNG Revenues increasingly oil price linked Margin Clear evidence…
First half net profit up 3% 2013 Half-year result Change on 2012 first half Production 24.5 mmboe -4% Sales revenue 1,510 million 1% EBITDAX 844 million -4% Net profit after tax 271 million 3% Underlying net profit 251 million…
Production costs down 5% First-half production costs down 5% primarily due to cost savings Production costs combined with statutory shutdowns in 1H 2012 (Bayu-Undan, Varanus million Island) 800 688 2012 and 2013 production costs…
Net profit up 3% Half-year net and underlying net profit after tax million 504 500 400 300 262 283 271 251 236 198 210 200 102 95 100 0 1H 2009 1H 2010 1H 2011 1H 2012 1H 2013 NPAT Underlying NPAT First-half net…
Capital expenditure of 2 billion driven by investment in GLNG and PNG LNG projects Capital expenditure million (includes capitalised interest) 4,000 3,359 3,069 3,000 1,854 1,660 GLNG 850m 2,000 1,882 EA 375m 1,557 PNG LNG…
4.8 billion of liquidity provides the capacity to fund the execution of our strategy Available liquidity Debt maturity profile A billion A million 6 2,000 Notes mature in 0.6 2070, with Santos 0.4 option to redeem in 1,500 2017…
Train 1 propane condenser module in place on Curtis Island Delivering major projects David Knox Managing Director & CEO
Fletcher Finucane project has already produced over 1.5 million barrels of oil since 20 May 2013 First oil delivered ahead of schedule and only 16 months after the project was sanctioned Final cost of 470 million, 4% under budget…
Dua is over 55% complete and on track for first oil in first half of 2014 Santos 31.875%, Premier Oil operator Located 17km north-east of Chim So Three-well subsea tie-back to Chim So FPSO Fabrication of equipment packages to be…
Peluang is 22% complete and on track for first gas in first half of 2014 Santos 67.5% and operator Located in the Maleo gas field, offshore East Java in Indonesia One-well tieback to the existing facilities at Maleo Procurement for…
PNG LNG is 90% complete and on track for first LNG in 2014; commissioning gas expected in Q3 2013 Santos 13.5%, ExxonMobil 33.2% and operator Recent milestones include: Drilling of the first four wells underway; the first two wells…
Construction at Hides is progressing to plan as equipment is delivered via Komo Hides 20 Gas Conditioning Plant
LNG plant is transitioning from construction to commissioning LNG plant 21 site, Caution Bay
GLNG is over 60% complete and remains on track for first LNG in 2015; US18.5 billion capex maintained Santos 30% and operator 2013 milestones to date include: Over 18 million work hours worked across the project by over 6,000 people…
CSG drilling on target to drill more than 200 wells in 2013 with continued cost performance gains Nine drilling rigs and four completion rigs Drilled 119 wells in the first half of 2013, on target to drill over 200 wells by year…
Upstream construction continues to ramp up at the Fairview and Roma hubs Fairview 24 Hub 4
Pipeline on track for Q2 2014 completion; marine crossing tunnelling ahead of schedule Construction of 420-kilometre pipeline well underway All private landholder approvals have been obtained Clearing and grading is 84% complete…
Significant milestones in downstream construction: first LNG tank roof raise, MOF complete, 25 modules delivered LNG jetty LNG tanks LNG Train261 Unloading at the MOF
Jack Bates, Browse Basin Exploration David Knox Managing Director & CEO 27
Material exploration program in key basins Nam Con Son Hon Khoai-1 Cooper Browse Basin unconventional 2012 Crown discovery REM shale Bassett West discovery Nappamerri Dufresne-1 drilling ahead Trough Carnarvon Basin…
Browse Basin Crown and Bassett West successes unlock material play; Dufresne drilling ahead Crown gascondensate Grande Dufresne-1 Bassett West discovery (Santos 30%) prospect discovery - 61 metres net gas pay in Jurassic-aged Montara,…
Carnarvon Basin - Winchester and Bianchi discoveries adjacent to key infrastructure Winchester discovery Winchester gas discovery Santos 75% and operator 58 metres of net gas pay in the Jurassic Angel and Triassic Mungaroo formations…
Cooper unconventional REM shale play Moomba-191 currently flowing at 2 mmscf/day Three follow-up vertical/horizontal Gaschnitz discovery pairs to further appraise the play Basin Centred Gas play Gaschnitz-1 well confirmed a…
Train 1 construction, Curtis Island Summary David Knox Managing Director & CEO
2013 first-half summary Solid first half, expect stronger second half Fletcher Finucane first oil delivered ahead of schedule and under budget PNG LNG and GLNG projects on schedule; capital cost estimates unchanged Exploration…
PNG LNG jetty Reference slides
Eastern Australia first half impacted by planned Cooper Basin maintenance; gas capacity build on track Production EBITDAX (mmboe) (million) Production down 9% primarily due to 312 planned Cooper Basin maintenance and 10.9 natural…
WA&NT Consistent EBITDAX contribution; Fletcher Finucane will drive stronger second half Production EBITDAX (mmboe) (million) 9.4 393 Production in line with higher efficiency 9.2 378 and capacity at Bayu-Undan and higher volumes…
Asia Pacific Consistent production and EBITDAX; growth projects on track Production EBITDAX (mmboe) (million) Production in line with higher Chim So, 4.4 4.4 174 170 Oyong and Wortel offset by lower Maleo nominations EBITDAX also…
Third party product sales revenue in line with 1H 2012, despite lower sales volumes Higher volumes of third party crude offset by lower volumes of third Third party sales volumes party gas primarily due to Longtom (mmboe) outage 6…
Net profit reconciliation Half-year net profit after tax million 300 30 271 262 1 (14) (24) 11 5 240 180 120 60 0 1H 2012 Prices and Volume Production Net finance Other Impairment 1H 2013 foreign costs costs…
Significant items after tax Half-year Half-year million 2013 2012 Net profit after tax 271 262 Add/(deduct) significant items Net gains on asset sales (6) (6) Net impairment (reversal)/loss (8) 22 Other (6) 5 Underlying net profit 251…
Application of AASB 11 Joint Arrangements AASB 11 Joint Arrangements became effective from 1 January 2013. Previously, Santos accounted for incorporated joint ventures using the proportionate consolidation method. Under AASB 11, several…
2013 guidance Item 2013 guidance Production (mmboe) 52-55 Production costs (million)1 670-690 DD&A expense (/boe) 16.50 Royalty related taxation expense2 50 (million after tax) Capital expenditure (including 4 billion…
2013 full-year sensitivities Sensitivity Change NPAT impact Amillion US oil price +/-US1/bbl +/-12 A gas price +/-10 cents/GJ +/-13 A/US exchange rate +/-1 cent -/+12 43
2013 exploration schedule Well name Basin / area Target Santos Interest Timing / result % Bassett West-1 Browse Gas 30 Gas discovery Bianchi-1 Carnarvon Gas 24.75 Gas discovery Winchester-1 Carnarvon Gas 75 Gas discovery…
Contact information Head office Adelaide Andrew Nairn Ground Floor, Santos Centre Group Executive Investor Relations 60 Flinders Street Level 10, Santos Centre Adelaide, South Australia 5000 Direct: + 61 8 8116 5314 GPO Box 2455 Email:…
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