Santos highlights Indonesian Q4 oil production

The following is an excerpt from Santos Limited's fourth quarter report released on Friday.

Maleo gas field, Madura Offshore PSC, E. Java (Santos 67.5%, operator)

Sales gas production from Brantas, Kakap and Maleo of 6.2 PJ (5,847 MMCF) was 15% higher than Q4 2007.

Production from the Maleo field continues to be impacted by capacity restrictions in the East Java gas pipeline (operated by Pertamina) following a rupture of this line during November 2006. However, the situation continues to improve and gross production rates from Maleo during Q4 2008 averaged approximately 104 TJ/day or about 98.07 MMCFD (up from approximately 101 TJ/day or about 95.24 MMCFD in Q3 2008 and 96 TJ/d (90.5 MMCFD) in Q2 2008).

Indonesian crude oil production of 0.19 mmbbl was 15% lower when compared to Q3 2008 due to natural field decline.

Oyong Project, Sampang PSC, offshore E. Java (Santos 45%, operator)

Oyong phase 2, development of the gas reserves, achieved project sanction in December 2007. Engineering and construction works are progressing on schedule and first gas production scheduled for third quarter 2009. (end of excerpt)