Subscribe to our news feedPapua New Guinea project will cause major step-change for Santos
|
Published on Saturday 22nd August 2009
The outlook for a major company is expected to make a major jump in its production levels with the initiation of a Papua New Guinea project. Santos predicts that it will maintain a steady level of production in the near future, although this will undergo a large change in 2014. The scheduled launch of the Gladstone liquefied natural gas (LNG) and Papua New Guinea projects will result in a stepchange of production. David Knox, chief executive officer of the company, claims that both of these schemes have made significant achievements and inspire the firm with confidence. He says: "The [Papua New Guinea project] also achieved major milestones with the full initial production capacity covered by commercial terms with four Asian buyers and the commencement of early works." In June, the company announced that the Papua New Guinea project reached alignment on commercial terms for the sales of approximately 4.3 million tonnes a year to three buyers. 
|
|
|
|