GLNG Project FID Disclaimer & Important Notice

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Santos’ Portfolio GLNG Gas SupplySantos’ gas supply infrastructurein eastern Australia providessubstantial flexibility in gas supplyto GLNG• GLNG connected to existingintegrated gas infrastructure• Santos has assets in everyproducing basin• Santos’ portfolio gas providessignificant optionality in gas supplyand ramp gas managementBalleraMoombaSouthAustraliaPt BonythonOtwayQueenslandNewSouth WalesVictoriaSurat/BowenFairview, Roma,Scotia, ArcadiaGunnedahGippsland250km11LegendSantos permitsOil pipelineGas pipelineCapex Overview• GLNG has an estimated gross capital cost of approximately US$16billion from FID until the end of 2015, when the second train isexpected to be ready for start-up• The US$16 billion capital expenditure estimate includesapproximately US$2 billion in contingencies• The capital expenditure estimate is underpinned by fixed lump sumturnkey EPC contracts from Bechtel for the two LNG trains andSaipem for the gas transmission pipeline, and an EPC contract for theupstream surface facilities with Fluor• The predominantly fixed EPC contracting strategy, world-classcontractors and material project contingencies are intended tomitigate exposure to capital expenditure risk126
Key ContractorsGLNG partnerships with global contractorsBechtel Corporation (LNG plant)13• Bechtel Corporation has built approximately a third of theworld’s liquefaction capacity• Bechtel has designed and/or constructed LNG facilities inAlgeria, Angola, Equatorial Guinea, Indonesia, UAE, Libya,Nigeria, Egypt, Trinidad, US and Australia (Darwin LNG)• GLNG fixed price lump sum two-train LNG plant EPC contractFluor Corporation (upstream facilities)• Fluor Corporation is one of the world's largest publicly ownedEPCM and project management companies• The company provides a full range of integrated services tothe global oil and gas production and processing industries• GLNG upstream surface facilities EPC contractSaipem (gas transmission pipeline)• A global leader in the provision of engineering, procurement,project management and construction services• GLNG fixed price lump sum EPC gas transmission pipelinecontractSummaryFID on two-train 7.8 mtpa GLNG project todayDelivers on the strategic vision to transform Santos into asignificant exporter of LNGSantos equity contribution to GLNG fully funded147
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GLNG Project FID Disclaimer & Important Notice

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