Santos Proceeds With Production Facility Tie-In Project in Papua New Guinea
MT Newswires Live
May 12
Santos (ASX:STO) made a final investment decision to proceed with the Agogo production facility tie-in project in Papua New Guinea after the approval by the PNG LNG joint venture to deliver gas from the facility to the PNG LNG gas pipeline, according to a Tuesday filing with the Australian bourse.
The company's share of capital expenditure is roughly AU$160 million, with gross capital expenditure totaling around AU$400 million over three years, the filing said.
First gas is expected to be produced in the second quarter of 2028.
The company holds a 39.9% stake in the joint venture, per the filing.
Shares rose nearly 1% in morning trade Tuesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.