Santos’ full-year results released
Santos' 2024 full-year results have been released, which highlight significant progress milestones for the Barossa project and the operator’s plans to accelerate exploration and appraisal activities in the Beetaloo Sub-basin in 2025/26.
It is a testament to the continued development of the Territory’s energy sector, which will create stable, well-paying, and sustainable jobs for Territorians.
The full-year results indicate that the Barossa Project is 91% complete and on schedule to deliver first gas from the Barossa field to the Darwin Liquified Natural Gas (LNG) facility in Q3 of this year.
The progress of projects such as Barossa and the Darwin LNG life extension in recent months underscore the Department’s ongoing commitment to supporting the energy sector.
Establishing an attractive investment and regulatory environment is critical to securing the Territory’s prosperity.
Other highlights from the results include the Darwin Pipeline Duplication Project, which is set to be completed imminently, connecting the Barossa field to the Darwin LNG facility.
Additionally, three of the four Barossa production wells required to commence production have been drilled and completed, in readiness to produce optimal gas volumes, derisking the project and securing much-needed gas supply for the Darwin LNG facility.
Over 75% of the Darwin LNG life extension works are completed. When Barossa comes online later this year, the project will be on track to extend the operating life of the Darwin LNG facility for approximately 20 years, ensuring ongoing energy supply for Australia and the Territory’s trading partners.
The Darwin LNG facility, when fed by Barossa gas, is set to produce approximately 3.7 million tonnes per annum (Mtpa) of LNG, significantly contributing to both domestic energy needs and export markets.
In their Beetaloo Sub-basin exploration acreage, Santos is planning a drilling program for 2026, to appraise the more than 200 trillion cubic feet (tcf) of gas estimated in place.
A 255km seismic survey was completed in late 2024 and the completion of a multiple appraisal well drilling program is expected in early 2026.
The recent Memorandum of Understanding (MoU) between Santos and Tamboran Resources to examine a future expansion of the Darwin LNG Train 2 and the joint exploration of their Beetaloo Sub-basin acreage are key steps towards ensuring gas supply for Territory and Australian energy markets.
