Exploration & Production

Santos cuts 2018 production forecast

Santos has cut its production forecast for this year, the company said on Thursday
By Staff reporter 19 April 2018 0 30516

Santos has cut its production forecast for this year to 55-58 million barrels of oil equivalent (MMboe), down from a previous forecast of 55-60 MMBoe, the company said on Thursday.

Santos’s output in the first three months of 2018 fell by 6.8% year on year, to 13.8 MMboe, because of the outage at the PNG LNG plant in Papua New Guinea.

Santos said it is still considering the takeover bid from United States-based energy investment firm Harbour Energy.