Cover single - Santos

REVIEW OF PERFORMANCE
PRODUCTION
20
Production benefits from
the Development Program
> The Elang/Kakatua oil field reached a milestone
20 million barrels of cumulative production
during 2001.
> The Stag oil field reached a milestone 18 million
barrels of cumulative production during 2000
benefiting from the development program.
KEY FACTS
> Production reached a record
56 million boe.
> Stag oil production averaged
23,000 bopd for the year.
> Elang/Kakatua production
averaged 18,000 bopd for
the year.
> East Spar gas production
rose to 19 PJ for the year.
> Carnarvon Basin acquisition
boosted 2000 oil production
by 3 million boe.
> Santos produced a record
215 PJ of gas and ethane.
In 2000 Santos produced a
record 56 million boe, up 14%.
The increase in production is
attributable to the benefits of
the ongoing exploration and
development program and
Santos’ corporate development
activities. Total production from
the Offshore Australia Business
Unit doubled to 14 million boe
(7 million boe in 1999) while
production from the Queensland/
Northern Territory Business Unit
increased 6% to 19 million boe.
A highlight for the year was oil
and liquids production reaching
a record 19 million boe, boosted
by higher oil production from the
Stag and Elang/Kakatua oil fields
and the Barrow and Thevenard
Islands acquisition. Other
highlights were the significant
contribution from the Stag oil
field where oil production
averaged over 23,000 bopd and
peaked over 30,000 during 2000.
The improved performance and
extension of well life of the Stag
Field can be directly attributed
to the development program
that involved successful water
injection in 1999 and additional
remedial drilling during 2000.
A further example of success
through development is the
Elang/Kakatua Field where
remedial development work that
involved the drilling of a sidetrack
hole, workover and use of 3D
seismic led to improved
production. Elang/Kakatua
performance improved
significantly and averaged
Korinci-Baru
Bentu
0 1000
kilometres
Indonesia
Carnarvon Basin
Indian Ocean
Exploration
Production
Sampang
18,000 bopd during 2000.
The Elang/Kakatua Field
reached a significant milestone
during January 2001 when
cumulative production exceeded
20 million boe.
Santos expects 2001 production
to be 2% to 3% above the record
level achieved in 2000. Offshore
Australia is expected to continue
to contribute to Santos’
production profile in a significant
way with new projects such as
the Legendre oil field. Significant
investment in development during
2000 will help Santos grow its
production profile.
mmboe
Pacific Ocean
Warim
Irian Jaya
Timor Gap
Timor Sea
Darwin
Browse Basin
Bonaparte
Gulf McArthur
River
Perth
Amadeus
Basin
Kalgoorlie
Adelaide
Australia Melbourne
Southern Ocean
Oil pipeline
Gas pipeline
Cooper/
Eromanga
Basins
Otway Basin
60
50
40
30
20
10
0
Production
46
1998
Papua
New Guinea
SE Gobe
Mt Isa
Surat Basin &
Denison Trough
Gladstone
Ethane pipeline
Sydney
Canberra
Gippsland Basin
Bass Basin
Hobart
49
1999 2000
Sales gas & ethane
Crude oil & liquids
Brisbane
56