Santos (STO)

Shares / Stock Code

STO

Stock Exchange / Sharemarket

ax

Santos Limited (STO) is a gas and petroleum company engaged in the exploration, production, marketing and transportation of hydrocarbons. Although its operation is mainly in Australia as it serves as the domestic producer of gas, supplying sales gas in the mainland states of Australia and its territories, STO also performs international operations in Papua New Guinea, Indonesia, India, Vietnam, Kyrgyz Republic, Bangladesh and Egypt. STO was listed on the Australian Stock Exchange on the 1st of October 1954. Its average annual revenue reaches approximately $2 billion out of its issued capital of $1 billion. Its headquarters is located in Adelaide, South Australia and to date; around 1700 people are employed in the company. Santos Limited operates mainly through its five business divisions: Gas Marketing and commercialisation, Geo-Science and New Ventures, Operations, Strategic Projects and Development Projects and Technical Services.

Santos' (STO) Gas Marketing and Commercialisation division is in charge of the gas and liquids marketing, economics and commercialisation projects, gas planning as well as new gas business development.

The STO Geo-Science and New Ventures division is responsible for all the appraisal, exploration and new venture activities in Santos Limited.

The Santos Operations division of Santos Limited is in charge of the all the productions and operation activities in Santos Limited. The activities it oversees include onshore Australian operations development and delineation, environment, safety and health as well as facilities engineering and maintenance.

The Strategic Projects division is in charge of the company's identified projects as well as the regions where Santos limited puts much strategic importance on.

The Development Projects and Technical Services division of Santos (STO) is responsible for the offshore and international development portfolio that includes the subsurface engineering, operated and non-operated projects as well as other technical services.

Santos Limited (STO) Company History

In 1954, Santos Limited (STO) acquired discovery rents covering more than 325,000 sq km in South West of Queensland and South Australia after they were included in South Australia in 1954 and in 1958, the company made a business contract in the company of Delhi Australia petroleum where it explored its own rights.

Innamincka was the first well drilled project in 1959 spearheaded by the joined companies. Hydrocarbon shows were there as well as the Permian sediments was exposed despite failure to discover petroleum, which gave reason for the company to explore further. In 1963, they continued the search for petroleum through farm-in contract with the French Petroleum, which is an Australian company. They drilled five wells prior to the Gidgealpa 2 and produced commercial amounts of natural gas in December 1963, after Innamincka 1. They discovered more gas at the Moomba 1 in 1966.

The supplies for gas in Adelaide continued in 1969 from Gidgealpa fields and Moomba fields, together with the 790 km pipeline completion of Adelaide in 1969. Another gas agreement was made with the South Australia Electricity Trust in the same year. The Santos Limited tried to discover some gas in Cooper Basin from 1970 to 1971.

The company announced to go on with a 1.4 billion dollar projects, in behalf of their partners in the early 80s. They have selected the site for liquid terminals in 1981, a path for the pipelines chosen, studies on environmental impact were completed and it was government approved.

Jackson 1 made the discovery of Queensland Eromanga Basin oil in 1981. Some of the following discoveries were completed and Jackson production facility was included in the commissioning for the development program that was undertaken.