SANTOS LIMITED — Capital/Financing Update 2019

Sep 25, 2019

ASX / Media Release

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26 September 2019

Another major Barossa contract awarded

Santos today announced the Barossa project has taken another big step towards a Final Investment Decision early next year with the award of the gas export pipeline contract.

The contract for the engineering, procurement, construction and installation of the 260-kilometre gas export pipeline was awarded to Allseas Group.

The Barossa project is currently in the front-end engineering design phase and includes a floating production, storage and offloading (FPSO) facility, subsea production system and gas export pipeline.

The gas export pipeline will tie the Barossa gas field, 300 kilometres north of Darwin, into the existing Bayu Undan to Darwin Pipeline.

Santos Managing Director and Chief Executive Officer Kevin Gallagher said: “This is another big step towards Barossa FID and follows the award of the subsea production system and installation support contract in May.”

“Evaluation of tenders for the FPSO and development drilling contracts is well progressed.”

The Barossa field sits within Santos’ northern Australia portfolio, one of the company’s core long-life, natural gas asset regions.

The project area encompasses petroleum permit NT/RL5 located in Commonwealth waters offshore Northern Territory.

Santos holds a 25% interest in the Barossa joint venture along with partners ConocoPhillips (37.5% and operator) and SK E&S (37.5%).

Santos is also a joint venture partner in Darwin LNG with an 11.5% interest.

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 Phoebe Nolan +61 8 8116 7409 / +61 (0) 408 193 056 phoebe.nolan@santos.com

Investor enquiries

Andrew Nairn +61 8 8116 5314 / +61 (0) 437 166 497 andrew.nairn@santos.com

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