Santos' First Quarter Output Up 11%

Adelaide headquartered based Santos reported first quarter production of 15.6 mmboe, up 11 percent on the corresponding quarter and 5 percent higher than the previous quarter.

GLNG train 1 produced 958,000 tonnes of LNG and shipped 16 cargoes in the quarter, Santos said Friday. Sales under the long-term contracts with GLNG’s foundation customers commenced at the end of March 2016.

Santos owns 30 percent in GLNG project. Petronas and Total own 27.5% each by Petronas and Total while 15 interest is owned by Korea Gas Corp. The project's first production train, which has a capacity of 3.9 million mt/year, started up in September 2015.

Sales volumes were up 40 percent on the corresponding quarter while sales revenue was A$835 million.