Santos Sells Assets, Focuses on Profitable Projects

Santos, a prominent energy firm, has offloaded assets in Australia, including a 42.86% stake in the Mahalo Joint Venture to Comet Ridge for $40 million upfront, with potential additional earnings. They also sold interests in Petrel and Tern fields to Eni Australia, reducing decommissioning costs. These sales reflect Santoss strategy to focus on near-production projects and demonstrate capital discipline.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.