Santos Limited
(ASX:STO) has forecast its oil and gas production will rise by about 4 per cent next year.
The oil and gas producer says production this year will come in at up to 55 million barrels of oil equivalent and rise to up to 57 million barrels of oil equivalent next year.
Santos has advised the gain is expected to be driven by new projects as they come online.
The company has also affirmed it expects next year’s expenditure to come in at about $4 billion, up from $3.5 billion expected this year as it invests into its projects.
Santos reported a net profit of $262 million in the first half of the 2012 financial year.
