Santos Limited
(ASX:STO) is making plans to fight what it describes as concerning and extremely high costs in Australia.
CEO David Knox told ABC TV yesterday the oil and gas producer is working to see how it can drive costs out collectively and lots of things are being considered.
Among the considerations are plans to team up with its rivals at a range of levels to keep Australia’s liquefied natural gas industry competitive.
Mr Knox says Santos is currently seeking to join forces in both upstream and downstream situations, where it makes sense to do so, and believes this focus on collaboration will continue.
Santos posted a net profit of $262 million in the first half of the 2012 financial year.
