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{{Infobox company
|name = Santos Ltd.
|logo =
|image = Santos Ltd headquarters, Adelaide 2016.JPG
|image_caption = Santos Limited headquarters
|type = [[Public company|Public]]
|traded_as = {{asx|STO}}
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*Production, treatment and marketing of [[coal seam gas]] (CSG), [[liquefied natural gas]] (LNG), [[crude oil]], [[Natural-gas condensate|condensate]], [[naphtha]] and [[liquid petroleum gas]] (LPG);
*Transportation by pipeline of crude oil and gas
|revenue = US$3.660 billion (2018)<ref name=santos1>{{cite news |url=https://www.santos.com/media-centre/announcements/santos-2018-full-year-results |title=Santos 2018 Full-Year Results |publisher=Santos |date=21 February 2019 |access-date=21 February 2019 |archive-date=4 September 2019 |archive-url=https://web.archive.org/web/20190904120157/https://www.santos.com/media-centre/announcements/santos-2018-full-year-results/ |url-status=dead }}</ref>
|net_income = {{profit}} US$0.727 billion (2018)<ref name=santos1/>
|num_employees = 2,190 (2018)
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After oil was discovered at Tirrawarra, near [[Moomba, South Australia]], in the early 1970s, the company developed its liquid supply operations, which included a plant at Moomba and a [[fractionation]] and loading facility at [[Port Bonython]].<ref name=hist/>
In the 1990s, the company expanded, acquiring other companies and developing its operations both onshore and offshore in Australia, Indonesia, Malaysia, Vietnam and [[Papua New Guinea]]. Also in this decade it acquired interests in [[petroleum]] in the United States and United Kingdom, as well as operations in the [[Timor Sea]] and [[Western Australia]].<ref name=hist/> The [[Ballera gas plant]] in [[South West Queensland]] was established in 1991 and upgraded in 1997.<ref>{{cite web | publisher=
In 2015 Santos began producing LNG, shipping it to [[South Korea]].<ref name=hist/>
In August 2018 Santos announced the acquisition of Australian oil and gas company Quadrant Energy for $2.15 billion. As part of the deal, Santos obtained Quadrant's 80% stake in Dorado in the [[Bedout Basin]] in northern Western Australia.<ref>{{Cite news|url=https://uk.reuters.com/article/us-quadrant-energy-m-a-santos-ltd/australias-santos-expands-with-2-15-billion-quadrant-buy-after-spurning-takeover-idUKKCN1L70KI|title=Australia's Santos expands with $2.15 billion Quadrant buy after...|last=Paul|first=Sonali|work=U.K.|access-date=2018-10-11|language=en-GB}}</ref>
In May 2020 Santos completed its acquisition of [[ConocoPhillips]]' northern Australia and [[Timor-Leste]] assets for US$1.265 billion as well as a contingent payment of US$200 million, which gave Santos control of ageing offshore assets in Bayu-Undan, [[subsea]] assets in the [[Timor Sea]], and onshore gas plant [[Darwin, Northern Territory|Darwin]] LNG (DLNG), which included the [[Bayu-Undan to Darwin Pipeline]]. At the completion of the deal with ConocoPhillips, the interest of Santos in these assets was increased to 68.4%, The sale was contingent on a final investment decision on the future [[#Barossa project]], which once concluded increased Santos' interest in the project to 62.5%.<ref name=afr2020>{{cite web |last1=Smith |first1=Angela |title=Santos saves up-front in $1.9b Conoco deal |date=28 May 2020 |url=https://www.afr.com/companies/energy/santos-saves-up-front-in-1-9b-conoco-deal-20200528-p54xa5 |publisher=Australian Financial Review |access-date=2020-05-28}}</ref><ref>{{cite web |title=ConocoPhillips completes Australian asset sale to Santos |date=28 May 2020 |url=https://www.worldoil.com/news/2020/5/28/conocophillips-completes-australian-asset-sale-to-santos |publisher=World Oil |access-date=2020-05-28}}</ref>
In December 2021, Santos bought [[Oil Search]], the largest oil and gas exploration and development company incorporated in Papua New Guinea, which operated all of the country's oilfields.
==Description and governance==
Santos is one of Australia's domestic gas and oil producers, supplying sales gas to all mainland Australian states and territories, [[ethane]] to [[Sydney]], and oil and liquids to domestic and international customers.<ref name=oilvoice1>{{cite web | url= http://www.oilvoice.com/Description/Santos/6fee81bd.aspx | title=Santos | publisher= OilVoice | access-date=19 April 2008}}</ref> It is the biggest supplier of natural gas in Australia,<ref name=about>{{cite web
▲Santos is one of Australia's domestic gas and oil producers, supplying sales gas to all mainland Australian states and territories, [[ethane]] to [[Sydney]], and oil and liquids to domestic and international customers.<ref name=oilvoice1/> It is the biggest supplier of natural gas in Australia,<ref name=about>{{cite web title=About Us | website=Santos | url=https://www.santos.com/about-us/ | access-date=7 June 2022}}</ref> Australia's second-largest independent producer of oil and [[natural gas]], and was slated to become the world's biggest [[liquefied natural gas]] (LNG) exporter by 2019.<ref name=age070917>{{cite web | title=Santos diverts some gas slated for exports to shore up Australian supply | website=[[The Age]] | date=7 September 2017 | url=https://www.theage.com.au/business/santos-diverts-some-gas-slated-for-exports-to-shore-up-australian-supply-20170907-gycigf.html | access-date=7 June 2022}}</ref> In the 2020 [[Forbes Global 2000]], Santos was ranked as the 1583rd-largest public company in the world.<ref>{{cite web |title=Forbes Global 2000 | website= [[Forbes]] | url= https://www.forbes.com/global2000/#39910f1b335d |access-date=31 October 2020}}</ref>
Santos has its headquarters at 60 [[Flinders Street, Adelaide|Flinders Street]], Adelaide.<ref name=er2021/> It also has offices in Brisbane, Sydney, [[Perth]] and [[Jakarta]].
Since 1 February 2016 and {{as of|lc=yes|June 2022}} the company's CEO has been [[Kevin Gallagher (businessman)|Kevin Gallagher]].<ref>{{cite web | title=Our Leadership | website=Santos | url=https://www.santos.com/about-us/our-leadership/ | access-date=7 June 2022}}</ref> He was preceded by [[David Knox (businessman)|David Knox]].<ref>{{cite web | title=Santos new boss to start in February | website=PerthNow | date=4 December 2015 | url=https://www.perthnow.com.au/business/santos-new-boss-to-start-in-february-ng-50acfe982ab83618547dc35ec4552f64 | access-date=7 June 2022}}</ref>
==Operations==
<!---not actually in the archived version of this source around that date---As of 2008, Santos was participating in on- and offshore oil and gas exploration and production ventures throughout Australia, in the [[Timor Gap]], [[Indonesia]], [[Papua New Guinea]], [[India]], [[Bangladesh]], [[Egypt]], [[Vietnam]] and [[Kyrgyzstan]].<ref name=oilvoice1>{{cite web | url= http://www.oilvoice.com/Description/Santos/6fee81bd.aspx | title=Santos | publisher= OilVoice | access-date=19 April 2008}} {{dead}}</ref>--->
The South Australian and Queensland gas reserves are the main sources of natural gas to the [[eastern states of Australia]]. Santos is the primary venture partner and operator of [[natural gas processing]] facilities at Moomba in SA and Ballera in [[Queensland]], and pipelines connecting those facilities with Adelaide, Sydney, [[Melbourne]], [[Brisbane]], [[Rockhampton]] and [[Mount Isa]].{{Citation needed|date=May 2016|reason=does it operate the pipelines?}}
===Gas and LNG===
Santos has made significant discoveries in the [[Browse Basin]], off the northwest of [[Western Australia]]. On 22 August 2014 the company announced a major [[Natural-gas condensate|gas condensate]] discovery at the Lasseter-1 exploration well in WA-274-P in the basin, in which Santos had a 30% interest in company with [[Chevron Corporation|Chevron]] (50%) and [[Inpex]] (20%). It was the second major discovery by the company in the area in two years.<ref name="SantosWA">{{cite news|title=Higher interim dividend by Santos as oil and gas revenue rises|url=http://www.australiannews.net/index.php/sid/225005177|date=21 August 2014|access-date=22 August 2014|publisher=Australian News.Net}}</ref>▼
[[File:Santosinnamincka.jpg|thumb|Santos drill rig near [[Innamincka, South Australia|Innamincka]] ([[Cooper Basin]]), 1959]]
▲Santos has made significant discoveries in the [[Browse Basin]], off the northwest of [[Western Australia]]. On 22 August 2014 the company announced a major [[Natural-gas condensate|gas condensate]] discovery at the Lasseter-1 exploration well in WA-274-P in the basin, in which Santos had a 30% interest in company with [[Chevron Corporation|Chevron]] (50%) and [[Inpex]] (20%). It was the second major discovery by the company in the area in two years.<ref name="SantosWA">{{cite news|title=Higher interim dividend by Santos as oil and gas revenue rises|url=http://www.australiannews.net/index.php/sid/225005177|date=21 August 2014|access-date=22 August 2014|publisher=Australian News.Net}}</ref>
On 7 September 2017 Santos pledged to divert 30 petajoules of gas from the Gladstone LNG plant slated for export into Australia's east coast market in 2018 and 2019, as part of efforts to avert government-imposed restrictions on gas exports to solve local gas shortages.<ref name=age070917/> Because of shortages in its own supply of gas for export, Santos rely on purchasing gas from third parties to supply its overseas contracts.{{
Santos has an interest in the [[Darwin, Northern Territory|Darwin]] LNG project, which was the first [[liquefied natural gas]] project in the [[Northern Territory]] and the second in Australia. It has been supplied by the Bayu-Undan field, which is anticipated will be exhausted during the 2020s, hence the intention to develop the [[#Barossa project|Barossa project]] to replace the dwindling reserves.<ref name="Richardson 2021">{{cite web | last=Richardson | first=Nathan | title=Australia's Santos takes FID on Darwin LNG Barossa backfill project | website=S&P Global Commodity Insights | date=30 March 2021 | url=https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-gas/033021-australias-santos-takes-fid-on-darwin-lng-barossa-backfill-project | access-date=7 June 2022}}</ref>
====Barossa project====
{{Main article|Barossa Gas Project}}
The Barossa project is a proposed [[gas field]] in the [[Timor Sea]], intended to take over from Bayu-Undan field after its reserves are exhausted, supplying LNG to the Darwin facility via a new pipeline which, for part of its length, run parallel to the existing [[Bayu-Undan to Darwin Pipeline]].<ref>{{cite web |title=Darwin Pipeline Duplication (DPD) Project NT EPA Referral |url=https://ntepa.nt.gov.au/__data/assets/pdf_file/0010/1081369/referral-report.PDF |publisher=Northern Territory Environment Protection Authority (NT EPA) |access-date=2021-12-08 |ref=BAA-201 0003}}</ref> Condensate oil will also be extracted.<ref name="Richardson 2021"/> It is situated around {{cvt|300|km}} north of Darwin, in Australian waters. Worth {{AUD|4.7 billion}}, the project was signed off in 2021, with gas production is expected to commence in 2025. The project is expected to create about 600 jobs during construction and 350 ongoing jobs in Darwin over the following 20 years.<ref name="Bardon 2022"/>
The project has been criticised for its future [[carbon emissions]]. If developed, Barossa would become the most [[emission intensity|carbon-intensive]] gas development in Australia.<ref name=vorrath/> When the project was purchased from ConocoPhillips in 2020, it was projected to produce 1.5 tonnes of {{CO2}} for every tonne of LNG.{{
In June 2022 [[traditional owners]] of the Tiwi Islands filed a lawsuit against Santos and the [[Australian Government|federal government]], whom they said had not properly consulted them. They are concerned about the effect on the nesting areas of [[flatback turtle|flatback]] and [[olive ridley turtle]]s, which provide one of the [[Aboriginal Australians|Aboriginal people]]'s traditional food sources. Four federal government [[marine park]]s, including [[Ashmore Reef]], are also in the vicinity. Santos has submitted an environmental impact plan, which includes the potential impact of an oil spill, and its plans for cleanup should one occur.<ref name="Bardon 2022">{{cite web | last=Bardon | first=Jane | title=Tiwi traditional owners launch Federal Court action to try to stop Santos Barossa gas field | website=ABC News| publisher= [[Australian Broadcasting Corporation]] | date=7 June 2022 | url=https://www.abc.net.au/news/2022-06-07/nt-tiwi-islands-launch-court-action-santos-barossa-consultation/101128926 | access-date=7 June 2022}}</ref>▼
The project has been the target of a number of high profile legal cases. In March 2022 leaders of the Jikilaruwu [[Tiwi Islands]] clan targeted the South Korean state-owned Export-Import Bank of Korea and the Korea Trade Insurance Corporation, which are planning to lend Santos approximately {{AUD|950m}} (£530m). The case failed in the Seoul District Court.<ref>{{cite web | last=Bardon | first=Jane | title=Traditional owners vow to keep fighting Barossa gas field despite losing South Korean court battle | website=ABC News| publisher= [[Australian Broadcasting Corporation]] | date=25 May 2022 | url=https://www.abc.net.au/news/2022-05-25/nt-santos-barossa-gas-tiwi-larrakia-lose-southkorea-court-figh/101097372 | access-date=7 June 2022}}</ref> In June 2022 [[traditional owners]] of the [[Tiwi Islands]] filed a lawsuit against Santos and the [[Australian Government|federal government]], who they said had not properly consulted them. In the lawsuit Dennis Tipakalippa (senior lawman of the Munipi Clan) also argued that [[National Offshore Petroleum Safety and Environmental Management Authority|NOPSEMA]], the federal offshore gas regulator, should not have approved Santos’ plans to drill the Barossa gas field due to the Santos' inadequate consultation.<ref>{{cite web |title=Tiwi Traditional Owner wins legal challenge to Santos Barossa Gas Project |date=21 September 2022 |url=https://www.edo.org.au/2022/09/21/tiwi-traditional-owner-wins-legal-challenge-to-santos-barossa-gas-project/ |publisher=Environmental Defenders Office |access-date=2022-09-21}}</ref>
▲
==Financial results==
Santos' production for 2008 was {{convert|54.4|Moilbbl|m3}} of oil equivalent.<ref name="santos1" /> Earnings before interest, taxes, depreciation, amortisations and exploration expenses for the period was A$2.8 billion, representing after tax profit of A$1.65 billion.<ref name="santos1" /> On 22 August 2014 the company said its oil production was at its highest level in six years. For the first half of 2014, Santos recorded sales revenue of $1.8 billion, an increase of 20% on the comparable period the previous year. Sales volumes rose by 5% to 28.9 million barrels of oil equivalent. As a result of the company writing off its investment in a coal seam gas project in Indonesia, the 2014 first-half profit being down 24% at $206 million.<ref name="SantosWA"/>
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==Issues==
=== Greenhouse gas emissions ===
{{see also|#Barossa project}}
In 2020, Santos was named on a list of Australia's 65 worst [[greenhouse gas]] emitting companies.<ref>{{Cite web|last=News|first=Murray Griffin of Footprint|date=2020-08-30|title=Australia's big polluters required to offset just 1.2% of greenhouse gas emissions|url=http://www.theguardian.com/environment/2020/aug/31/australias-big-polluters-required-to-offset-just-12-of-greenhouse-gas-emissions-in-past-year |access-date=2021-08-13 |website=the Guardian|language=en}}</ref> Following additional pressure from ethical investors, Santos announced a goal to reduce [[greenhouse gas emissions]] to achieve [[Carbon neutrality|net zero]] emissions by 2040 using a combination of [[carbon capture and storage]], [[renewable energy]] and offsetting through [[tree planting]] programs.<ref>{{Cite web|last=Toscano|first=Nick |date=2020-11-30|title=Santos targets net-zero emissions by 2040 as climate pressure grows|url=https://www.smh.com.au/business/companies/santos-targets-net-zero-emissions-by-2040-as-climate-pressure-grows-20201130-p56j6h.html |access-date=2021-08-13|website=The Sydney Morning Herald|language=en}}</ref>
=== Lobbying and political donations ===
Santos has engaged Adelaide-based consultancy
In the financial year 2012–13, Santos Ltd gave donations directly to the [[Australian Labor Party|Labor]], [[Australian Liberal Party|Liberal]], and [[National Party of Australia|National]] political parties at state and federal levels. Donations are tabled below.<ref>{{Cite web|url=http://www.abc.net.au/news/interactives/tables/aec-political-donations-table/|title=Australian political donations: Who gave how much? – ABC News (Australian Broadcasting Corporation)|publisher=ABC News|access-date=1 April 2016}}</ref>
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===Climate activism===
In March 2021, four [[Extinction Rebellion]] protesters glued themselves to the road outside the Santos building in Adelaide, and two scaled the building, painted messages on it, set off flares and glued themselves to the building. Police and firefighters had to remove them and the protesters, who included three women aged over 64, were charged. They were protesting against [[fracking]], and called upon Santos to invest more in [[renewable energy]].<ref>{{cite web | last=Wick | first=Ashley | title=Extinction Rebellion protesters superglue themselves to road, building in Adelaide | website=[[Nine News]] | date=10 March 2021 | url=https://www.9news.com.au/national/extinction-rebellion-protestors-superglue-themselves-to-road-building-in-adelaide/6eb94385-cbab-4a53-88d1-cd3866f938ef | access-date=7 June 2022}}</ref><ref name=er2021>{{Cite news|url=https://www.abc.net.au/news/2021-03-10/extinction-rebellion-protesters-disrupt-traffic-in-adelaide/13233176|title = Protesters glue themselves to road and let off smoke flares, blocking traffic in Adelaide's CBD|newspaper = ABC News|date = 9 March 2021}}</ref>
Tiwi Islanders won a landmark case in September 2022, against drilling for gas by Santos in their traditional waters after complaining that the company failed to consult them about the impact of the project. Judge Mordecai Bromberg set aside approval for the drilling, part of Santos’s $4.7bn Barossa project and gave Santos two weeks to shut down and remove its rig from the sea north of Melville Island. The Judge said the offshore oil and gas regulator Nopsema failed to assess whether Santos had consulted with everyone affected by the proposed drilling, as required by the law.<ref>{{Cite web |date=2022-09-21 |title=Tiwi Islanders win court battle with Santos over drilling in traditional waters |url=https://www.theguardian.com/environment/2022/sep/21/tiwi-islanders-win-court-battle-with-santos-over-drilling-in-traditional-waters |access-date=2022-09-23 |website=the Guardian |language=en}}</ref>
=== Pipeline explosions ===
In January 2023, a gas pipeline exploded due to material fatigue. A similar event occurred in 2020. Both events were reported to the Government of South Australia, but neither was made public until they were discussed at the company's 2023 AGM and subsequently reported on by ABC news.<ref>{{Cite news |date=2023-04-06 |title=Santos confirms gas pipeline explosion in SA, as anger erupts over gas projects at company AGM |language=en-AU |work=ABC News |url=https://www.abc.net.au/news/2023-04-06/santos-confirms-cooper-basin-pipeline-explosion-agm-protests/102197880 |access-date=2023-04-07}}</ref>
==Sponsorship==
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=== ANU divestment ===
In October 2014, the [[Australian National University]] (ANU) sold its shares in Santos and several other companies in the nation's most reported case of fossil fuel industry divestment. Santos responded by claiming that gas is necessary in the state's future [[energy mix]], and ''[[The Advertiser (Adelaide)
=== Opposition to Santos sponsorship ===
In December 2014, photographs showing Queensland police vehicles featuring Santos company logos was criticised by anti-coal seam gas group
Online activists referred to the sponsorship as a "conflict of interest" and "a bloody disgrace" with Stop Brisbane Coal Trains spokesman John Gordon calling for the logos to be removed.<ref name=":3" /> Santos responded by stating that the company was "proud to support a program that promotes safe driving and is saving lives in outback Australia." Queensland's Police Minister [[Jack Dempsey]] defended the program and its sponsors stating "The Queensland Police Service's 'Stay on Track Outback' is a road safety program aimed at keeping communities safer and reducing road trauma in regional Queensland. It has been in place since 2012 thanks to support from a number of sponsors."<ref name=":3" />
In 2015, the Frack Free NT Alliance (a diverse group of opposing shale gas in the Northern Territory) called for the [[Darwin Festival]] to reject Santos sponsorship due to the company's involvement in [[shale gas]] exploration and development in the Northern Territory. [[Dayne Pratzky]], {{Aka}} ''[[Frackman]]'', supported the call.<ref>{{Cite news|title = Artists call on Darwin festival to reject Santos sponsorship over fracking|url = https://www.theguardian.com/australia-news/2015/jul/29/artists-call-on-darwin-festival-to-reject-santos-sponsorship-over-fracking|newspaper = The Guardian|date = 28 July 2015|access-date = 29 January 2016|issn = 0261-3077|first = Helen|last = Davidson}}</ref> On 19 October 2022, Santos announced they would not renew their 20 year funding agreement with the [[Darwin Festival]].<ref>{{Cite news |date=2022-10-18 |title=Santos pulls funding for major arts festival after lengthy campaign by fossil fuel opponents |language=en-AU |work=ABC News |url=https://www.abc.net.au/news/2022-10-19/santos-ends-sponsorship-funding-for-darwin-festival/101549370 |access-date=2022-10-18}}</ref>
In 2021 and 2022, [[Extinction Rebellion]] held protests at the [[Adelaide Botanic Garden]] to denounce Santos' sponsorship of the [[Santos Museum of Economic Botany]].<ref>{{Cite web|url=https://twitter.com/7NewsAdelaide/status/1434454971785748488 |title=Extinction Rebellion protesters rally against Santos sponsorship |publisher=7NEWS Adelaide |date=5 September 2021 |accessdate=1 June 2022}}</ref>
==See also==
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[[Category:Natural gas companies of Australia]]
[[Category:Companies listed on the Australian Securities Exchange]]
[[Category:Companies in the S&P ASX 50]]
[[Category:Companies based in Adelaide]]
[[Category:Companies based in the Northern Territory]]
[[Category:Non-renewable resource companies established in 1954]]
[[Category:1954 establishments in Australia]]
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