Santos Ltd on Thursday reported a 4 p.c quarter-on-quarter lower in output to 21.3 million barrels of oil equal (MMboe) as a decline in Western Australia offset will increase throughout the remainder of Santos’ portfolio.
Gross sales volumes fell 10 p.c sequentially to 21.5 MMboe within the third quarter “primarily on account of upkeep actions in Western Australia, decrease crude oil volumes on account of timing of liftings and decrease third-party fuel purchases”, Adelaide-based Santos stated in a press release on its web site.
Santos narrowed its 2025 manufacturing forecast from 90-95 MMboe to 89-91 MMboe and gross sales steerage from 92-99 MMboe to 93-95 MMboe. The projection downgrade “is primarily as a result of slower-than-anticipated start-up of the BW Opal FPSO, and the influence of floods on Cooper Basin manufacturing with restoration efforts extending into the fourth quarter, the place 155 wells are nonetheless offline on account of flood water ranges receding slower than anticipated”, it stated.
- Advertisement -
“On 12 October 2025 first fuel into the export pipeline was achieved and first manufacturing at Darwin LNG is predicted within the coming weeks. The delay was pushed by the later-than-planned departure of the BW Opal from the Singapore shipyard and the decision of software program points affecting the protection methods recognized throughout commissioning”.
Santos stated September 22 Darwin LNG’s new supply discipline, Barossa, had began producing pure fuel by means of floating manufacturing, storage and offloading vessel BW Opal and that the liquefaction facility had acquired reauthorization from Australia’s Northern Territory.
The Darwin LNG life extension venture can produce as much as about 3.7 million metric tons a yr of liquefied pure fuel (LNG), in keeping with Santos.
Darwin LNG’s earlier supply discipline, Timor-Leste’s Bayu-Undan, stopped exporting fuel to the liquefaction facility late 2023 on account of depletion, although Santos stated 2024 Bayu-Undan would proceed sending fuel to the Northern Territory till the tip of that yr. In its quarterly report July 16, 2025, Santos confirmed Bayu-Undan ceased manufacturing Might 2025.
The brand new supply discipline extends Darwin LNG’s manufacturing life by twenty years, in keeping with Santos. Santos plans to drill as much as eight subsea wells.
“Barossa LNG stays on observe to ship its first LNG cargo within the fourth quarter of 2025”, Santos stated Thursday.
In Alaska, section 1 of the Pikka oilfield growth was greater than 95 p.c full, Thursday’s assertion stated. “The venture stays on observe to fulfill accelerated first oil steerage within the first quarter of 2026, with ramp as much as a plateau of 80,000 bopd (gross) anticipated in mid-2026”, Santos stated.
In July-September Santos produced 10.2 MMboe in Papua New Guinea, 4.5 MMboe in Western Australia, 3.7 MMboe in Queensland and New South Wales and a couple of.9 MMboe within the Cooper Basin.
Gross sales fuel delivered for liquefaction totaled 68.5 petajoules in Q3, whereas home gross sales fuel totaled 42.6 petajoules. Liquefied petroleum fuel manufacturing was over 19,000 metric tons. Crude oil and condensate totaled 1.07 million barrels and greater than 975,000 barrels respectively.
Q3 gross sales income stood at $1.13 billion, in comparison with $1.29 billion for Q2 and $1.27 billion for Q3 2024. LNG accounted for $689 million, home fuel $267 million, condensate $85 million, crude $74 million and LPG $15 million. All besides condensate declined quarter-on-quarter.
Santos’ realized costs fell quarter-on-quarter for oil-indexed LNG “primarily on account of three-month lagged JCC”, Santos stated. “This was partially offset by constant realized costs from JKM-linked LNG gross sales”.
Realized costs for East Coast fuel and LPG additionally fell quarter-on-quarter. Yr-on-year, all besides West Coast fuel realized costs fell.
Free money stream from operations was round $300 million for Q3.
“With round $1.4 billion of free money stream from operations generated year-to-date, Santos is properly positioned to ship sturdy shareholder returns with imminent manufacturing progress as we convey Barossa LNG on-line and transfer nearer to the start-up of Pikka,” stated managing director and chief govt Kevin Gallagher.
“Moomba CCS continues to carry out to expectations, with greater than 1.3 million tonnes (gross) of CO2-equivalent safely and completely saved in its first yr of operations”, Gallagher added.
“A last funding resolution was made for the Cooper Midstream Simplification venture, which is able to drive value financial savings by simplifying the processing configuration at Moomba Plant and Port Bonython. This initiative helps our long-term technique to keep up worthwhile Cooper Basin operations.
“Momentum can also be constructing round our Narrabri Gasoline Venture, with sturdy market curiosity mirrored in latest MOUs and ongoing engagement with key stakeholders. Narrabri is the important thing to fixing east coast fuel provide issues and could be a aggressive provide supply for native business for many years to come back”.
To contact the writer, e mail jov.onsat@rigzone.com
