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SANTOS LIMITED — Capital/Financing Update 2014
Jul 10, 2014
65872_rns_2014-07-10_fc8cb7d5-294a-4f04-81a8-c67aeaaf36a5.pdf
Capital/Financing Update
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ASX/Media Release
11 July 2014
First oil from Dua project in Vietnam
Santos today announced that oil production has commenced from the Dua oil project, offshore Vietnam.
Sanctioned in August 2012, Dua is a three-well subsea tie-back to the existing Chim Sáo facilities located in Block 12W in the Nam Con Son Basin.
The gross production rate from the Dua wells is estimated to average 8,000 barrels per day for the first 12 months of production. Sufficient oil and gas handling capacity is available on the Chim Sáo FPSO to accommodate both Chim Sáo and Dua at full production.
Santos Vice President Asia, WA&NT John Anderson said Dua first oil represented the delivery of another project into the company’s expanding Asian portfolio.
“We congratulate our operator Premier Oil for delivering this key milestone for the joint venture. Dua is a high value brownfield addition to Santos’ portfolio and provides a boost to our existing oil production in Vietnam through the Chim Sáo facilities,” Mr Anderson said.
Santos has a 31.875% interest in the Dua project, with partners Premier Oil (operator) and PetroVietnam holding the remainder.
Ends.
Santos Limited ABN 80 007 550 923 GPO Box 2455, Adelaide SA 5001 T: +61 8 8116 5000 / F: +61 8 8116 5131 www.santos.com
Media enquiries Chandran Vigneswaran +61 8 8116 5856 / +61 (0) 467 775 055 [email protected]
Investor enquiries Andrew Nairn +61 8 8116 5314/ +61 (0) 437 166 497 [email protected]