Santos has reported strong financial and operational performance across its global portfolio, highlighting continued reliability and growth in key assets. PNG LNG achieved an annualised run rate of 8.6 Mtpa during the quarter, supported by more than 98 percent facility reliability, while Santos-operated PNG gas facilities maintained over 99 percent uptime at the Hides Central Processing Facility. In Western Australia, domestic gas production rose 8 percent year-to-date, aided by exceptional performance at Halyard-2 and Varanus Island. GLNG production averaged 711 TJ per day, with record daily output from the Roma field and ongoing field development at Scotia and Fairview. Cooper Basin production continued to recover following earlier flood disruptions, and the Moomba Carbon Capture and Storage (CCS) project safely stored over 1.3 million tonnes of CO₂-equivalent in its first year.
Key project milestones were also achieved. Barossa LNG began its production operations phase after first gas was introduced to the BW Opal FPSO, with first LNG shipment expected in the fourth quarter of 2025. The Darwin LNG facility successfully completed its life extension project, while Pikka Phase 1 in Alaska reached more than 95 percent completion, achieving record well lengths and positioning the project for first oil in early 2026. Santos also advanced its sustainability and partnerships agenda, securing a mid-term LNG supply deal with QatarEnergy Trading LLC, signing MOUs with ENGIE, Orica, and Narrabri Shire Council for domestic gas supply, and achieving an ESG score of 61 from S&P Global, placing it among the top 10 percent of global peers.
CEO Kevin Gallagher said the company’s strong results reflect the resilience of its diversified portfolio and disciplined operating model. With approximately 1.4 billion dollars in free cash flow generated from operations so far this year, Santos is positioned for strong shareholder returns as Barossa LNG and Pikka Phase 1 come online. Gallagher emphasised the company’s focus on safety, operational excellence, and cost efficiency, noting that Barossa and Pikka are expected to boost overall production by around 30 percent by 2027.
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