Santos Limited
(ASX:STO) has increased its gas output in Indonesia ahead of schedule. The oil and gas producer says it achieved first gas from its Peluang project offshore East Java.
Peluang’s production is expected to peak at 25 million cubic feet a day and is connected into the company’s existing Maleo gas field.
The milestone was reached on budget and is Santos’ fourth operated asset in South East Asia.
Santos has advised it is also focussed on progressing its recently acquired position in the Ande Ande Lumut oil field in the West Natuna Basin.
Santos’ net profit dipped 1 per cent to $516 million in the 2013 calendar year.
