Santos announce higher second quarter production and a significant jump in sales revenue following the successful start-up of the PNG LNG project, which commenced production in April of this year ahead of schedule.

The quarter’s production of 12.8 mmboe was an increase of 5% compared to the previous quarter and an increase of 3% compared to the second quarter of 2013. Sales revenue of $974 million for the quarter and $1,887 for the first-half increased by 22% and 25% respectively compared to 2013.

Santos Managing Director and Chief Executive Officer David Knox said that the successful start-up of the PNG LNG project, which shipped seven LNG cargoes by the end of the quarter, had driven the sound second quarter result and built momentum for a stronger second half.

Tags: Santos