Santos today outlined its new strategy for the business.
Speaking at Santos’ Investor Day in Sydney, Managing Director and Chief Executive Officer Kevin Gallagher said the company has implemented a strategy to drive shareholder value.
This strategy includes simplifying the business to focus on five core, long-life natural gas assets: the Cooper Basin; GLNG; PNG; Northern Australia, and Western Australia Gas.
The remaining assets, including the Narrabri Gas Project, will be run separately as a standalone business.
The Narrabri Gas Project remains a strategically important asset for Santos which has the potential to produce much needed natural gas for NSW.
Santos is continuing to progress the approval processes and will submit the Environmental Impact Statement for the Project in the near future.
Mr Bruce Clement has been appointed as Vice President to run the new standalone low-cost business comprising all non-core assets. Mr Clement was previously Chief Executive Officer of AWE Limited and will be based in Sydney.