Oil & Gas Company Santos Achieves Record Sales After Increase In Price

Oil and gas company Santos, which has joint venture projects with Petronas, has maintained its full year forecasts and achieved record quarterly sales revenue due to a steep increase in gas price.

Santos lifted its third quarter production as the gas price shot up 19 per cent amid record production at the Carnarvon Basin.

"The third quarter demonstrates the growth in our base business," Santos chief executive David Knox said in a statement on Thursday.

"The quarter also stands out for the highest quarterly sales revenue in the company's history."

Santos produced 13.5 million barrels of oil equivalent (mmboe) in the three months to September 30, up six per cent from 12.7 mmboe in the previous corresponding period.

-- BERNAMA