Page 13 - AsianOil Week 04

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The company also pointed to higher sales from the GLNG liquefied natural gas (LNG) terminal on Queensland’s Curtis Island. Santos, which operates the plant with a 30% stake, said its share of GLNG’s sales had climbed from 2.79mn tonnes in 2018 to 2.95mn tonnes on the back of stronger equity gas production and a record 393 wells drilled. The company has projected that GLNG will sell 6.2mn tonnes this year.
Santos’ share of crude oil sales jumped from 10.09mn barrels (27,600 barrels per day) in 2018 to 12.87mn barrels (35,300 bpd) in 2019, while condensate sales climbed from 4.18mn barrels (11,500 bpd) in 2018 to 5.49mn barrels (15,000 bpd).
Overall petroleum sales volumes, including own-product and third-party sales, climbed from 78.3mn boe (214,500 boepd) in 2018 to 94.5mn boe (258,900 boepd), while sales rev- enue rose to a record $4.03bn from $3.66bn in 2018. The company has set its 2020 production guidance for 79mn-87mn boe as well as a sales guidance of 93mn-100mn boe.
Santos managing director and CEO Kevin Gallagher said: “Natural gas is forecast to supply a quarter of the world’s total energy demand by 2040 and Santos, with its portfolio of long-life natural gas assets, is well positioned to benefit as we seek to deliver 120mn boe of production by 2025.”™
Senex’s Q2-FY20 production jumps 35%
PERFORMANCE
AUSTRALIAN developer Senex Energy’s oil and gas output jumped 35% quarter on quarter in the October-December period on the back of new fields coming online and production ramp-ups.
The company said production had climbed to 447,000 barrels of oil equivalent (4,859 barrels of oil equivalent per day) in the second quarter of financial year 2020-2021. Of that, gas accounted for 261,000 boe (2,837 boepd) – up 72%, while oil accounted for 189,000 boe (2,054 boepd) – up 3%.
The company increased gas flows from its Surat Basin assets by 65% q/q to 226,000 boe (2,457 boepd), while oil and gas production from the Cooper Basin climbed by 13% to 221,000 boe (2,402 boepd). Senex said its Surat Basin assets had “outperformed”, with the Roma North pro- ject’s production exceeding 13.5 TJ (352,000 cubic metres) per day, while Atlas’s output topped 6.5 TJ (169,000 cubic metres) per day. It added that Roma North was tracking towards the plant’s ini- tial capacity of 16 TJ (416,777 cubic metres) per day.
On Atlas, the company said the project had entered the final phase of commissioning and that gas sales agreements for more than 32 PJ (833.55mn cubic metres) had been reached with six customers. Senex said it had already started delivering gas to CleanCo, CSR and Orora.
Commenting on the Surat Basin’s prospects, Senex managing director and CEO Ian Davies said: “We have significant running room ahead with 612 PJ [15.94bn cubic metres] of [proven and probable] 2P gas reserves booked and more acreage to be appraised.”
The company increased production from the Growler and Spitfire fields, following work- over activity completed in the July-September period, to help offset natural oilfield declines. Senex said gas and gas liquids production was up 132% to 35,000 boe (380 boepd), which had been buoyed by the start-up of the Gemba field in late November 2019.
Senex’s revenue jumped by 23% q/q to AUD29mn ($19.85mn), with a 64% jump in sales of gas and gas liquids amounting to AUD10mn ($6.45mn) accounting for a large share of the overall increase.™
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