Santos advises that it expects to recognise a non-cash impairment charge of approximately $1.6 billion after tax in its 2014 full-year accounts. The impairment charge reflects the lower oil price environment and is a non-cash accounting adjustment that relates to the historical book value of the company’s assets. Impairment outcomes are subject to finalisation of…
Santos has lodged a submission with the NSW Legislative Council Select Committee that highlights the importance of NSW developing its natural gas resources. Local projects such as the Narrabri Gas Project will put downward pressure on gas prices to the benefit of families and businesses that rely on this essential energy resource. The NSW Legislative…
Santos reports $258 million underlying first-half profit and 33% increase in interim dividend Santos today announced a higher first half underlying profit after tax and a significant increase in the interim dividend following the successful start-up of the PNG LNG project, which commenced production ahead of schedule in April. Santos Chairman, Ken Borda, said the…
Energy NSW General Manager, Peter Mitchley said the collation of water data from all industries across NSW will allow for a much greater understanding of the state’s water resources. “Co-ordinating all water quality and usage data in real time will ensure regional cumulative impacts are properly understood and assessed,” Mr Mitchley said. “Santos has always…
The PAC’s decision regarding the Bibblewindi and Dewhurst applications is consistent with the Department of Planning’s detailed assessment of the applications, concluding that any potential impacts can be managed. The PAC determined that the groundwater modelling provided by Santos for the proposed activities is both suitable, adequate and additional modelling for these activities is not…
Santos reported the findings to the EPA in May 2013 and is continuing to work with the EPA to monitor the water. The water immediately underneath the ponds remains isolated and is not connected to any useable aquifer. This water is not used – nor is it viable to be used – for agriculture, stock…
As part of this process, Santos has identified any potential environmental issues associated with the Project’s construction and operation, regardless of how unlikely they are to occur. The PEA outlines strategies to address any potential issues of concern, including: Avoiding work in areas of cultural heritage or ecological significance Locating the majority of our water…
Santos reported the spill to the Office of Coal Seam Gas (OCSG) and an incident report is being prepared for submission to the OCSG. The water was contained within a surface diversion drain onsite and was captured and returned to the holding pond. There was no impact to any nearby water source and no risk…
The Principles of Land Access was signed today by Santos, AGL, NSW Farmers, Cotton Australia and the NSW Irrigators Council at NSW Parliament House. Santos is currently seeking development of the Narrabri Gas Project (NGP) to help unlock the State’s abundant natural gas resources, which could supply up to 50% of NSW’s natural gas requirements…
Santos has been very clear that the facilities at Bibblewindi constructed by the previous owner did not meet company standards. Santos always acknowledged, including in media releases and community presentations, concerns about the integrity of the Bibblewindi ponds and the need for new water storage and treatment facilities at Leewood. The water treatment facilities at…
The NSW Land and Environment Court today handed down its decision regarding reporting failures in relation to coal seam gas operations in the Pilliga Forest, NSW, previously owned and operated by Eastern Star Gas (ESG). Santos acquired ESG in November 2011. The incidents that were the subject of today’s decision occurred before Santos took over…
In late June, Santos submitted the program to the Commonwealth, as a referral under the EPBC Act, to determine whether the exploration was deemed likely to have a significant impact on the environment, or more specifically be of a scale to activate the ‘water trigger’, under new amendments to the Act. “Although our own independent…
In a speech to the APPEA Onshore Gas Conference in Adelaide this morning, Mr Baulderstone said the debate over developing eastern Australia’s abundant natural gas resources needs to be based on a robust assessment of the facts surrounding the region’s gas market and energy needs. “Natural gas is used by over 60% of Australia’s homes,…
Santos has made a submission to the New South Wales State and Regional Development Committee’s Inquiry into Downstream Gas Supply and Availability in NSW.
The more narrow Narrabri focus is designed to ascertain the commercial and technical viability of a gas development project to develop the resources in the Pilliga Forest. Santos believes the proposed Narrabri Gas Project could supply over 25% of the natural gas used by NSW homes, small businesses, major industries and electricity generators, and is…
We seek to operate safely and responsibly and we abide by the robust regulatory conditions and stringent approvals processes set out by state and federal regulators. We accept that the community has many questions about the expansion of coal seam gas activity in Australia. We need to make sure that the community has all the…
“Santos has committed to the community that we will operate at a high standard, and the most effective way to do that over the long term is to build a new water treatment plant. This will be the best solution from a long-term environmental perspective and is a major component of our new plan for…
Santos Chief Executive David Knox said it was important that “all levels of government work together with industry to help deliver the vision outlined in the Energy White Paper and transform Australia’s energy sector for the benefit of all Australians.” “Australia’s abundant gas resources, together with the economies of scale provided by the export LNG…
Santos acknowledges and accepts that the policy package ensures that there are independent, science-based assessment and decision processes for natural gas projects, and establishes guidelines for interaction of the resources industry and other land uses. While the policy recognises the important role that the natural gas industry will play in encouraging investment and jobs growth…
The study modelled a wide variety of scenarios for the next 90 years, ranging from a continuation of the ‘status quo’ with no further resource development, through the most likely development scenario based on existing industry plans, to a number of highly improbable and hypothetical scenarios. The extensive $4.5 million study, conducted in four stages…
The submission provides comments and feedback on the:
Draft Strategic Regional Land Use Plans for the New England/North West and the Upper Hunter.
Draft Aquifer Interference Policy.
Draft Code of Practice for Coal Seam Gas Exploration.
Santos is pleased that the Committee recognises the importance of developing NSW’s natural gas resources to secure the energy future for households and industries across the state. It is essential that this proceeds without further delay. Overall, the Upper House Committee Report should inspire confidence in the NSW community that the CSG industry can be…
The analysis, prepared by ACIL Tasman, identifies two fundamental drivers that are changing the gas supply market across eastern Australia: Growing gas demand, including for electricity generation driven by the introduction of a carbon price; and The emergence of a large-scale LNG industry in Queensland. The report finds: New South Wales currently imports 95% of…
Santos will seek urgent talks with the Government to gain a full understanding of how the extra hurdles for assessment of CSG production applications will work in conjunction with the already extensive State and Commonwealth regulations. Santos understands and accepts the objectives of NSW Government’s new policy. However, it is important to understand that any…
Detailed investigations show soil samples well within relevant safety guidelines Eastern Star practices and reporting processes found inadequate Santos commits to remediation and extensive upgrade of Eastern Star equipment and procedures Report submitted to NSW Government Santos is finalising a thorough review of all of Eastern Star Gas (Eastern Star) facilities and practices following its…
Santos today said the economic benefits of its proposed gas investments in NSW are already being felt in regional communities with the company employing more than 80 people across NSW. This is expected to rise to 1,800 direct jobs as its projects enter the construction phase. The Australia Institute report released today completely misrepresents the…
Santos has been advised by Esso Highlands Limited, an affiliate of ExxonMobil and operator of the PNG LNG project, that a landslide has occurred in the Hides area of the Southern Highlands of Papua New Guinea. The Papua New Guinean authorities are responding. A copy of the PNG LNG operator’s statement is attached to this…
Santos has provided an update to the NSW Government on a complaint lodged in October last year that an area of approximately 1.2 hectares of the Pilliga State Forest was impacted by the operations of Eastern Star Gas during 2011. The preliminary outcome of Santos’ investigation of the matter is that Eastern Star identified a…
A report by Allen Consulting Group released today by Santos shows that if the company’s proposed coal seam gas (CSG) investments proceed as scheduled, up to 1800 jobs would be created during a construction period between 2014 and 2017. The report: The economic impacts of developing coal seam gas operations in Northwest NSW found that…
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