Angore online with strong production to PNG LNG

Santos today announced completion of the Angore project in PNG's Hela Province, which will deliver up to 350 million standard cubic feet (mmscf) per day of gas to support stable, long-term PNG LNG production.

Angore has performed strongly since the project was brought online.

Completion of the Angore development unlocks a one trillion cubic feet natural gas resource to supply PNG LNG for years to come.

Santos Managing Director and Chief Executive Officer Kevin Gallagher said production success at Angore demonstrates the prolific nature of PNG's gas resources in Hela.

"The startup of Angore is one of a number of PNG highlights in 2024 for Santos and our joint venture partners - ExxonMobil, Kumul Petroleum Holdings, Mineral Resources Development Company and JX Nippon," Mr Gallagher said.

"The supply of associated gas from Kutubu through optimisation of the Central Processing Facility is also exceeding expectations with 16 billion cubic feet of gas accelerated so far this year.

"Associated gas from Agogo and Moran could deliver at least another 125 mmscf per day and we are working to make this development final investment decision-ready by 2026.

"In addition, we are currently drilling the Hides Footwall well, an exploration well that, if successful, could deliver up to another 160 mmscf per day.

"Fields such as P'nyang, Muruk and Juha also remain in the queue to sustain PNG LNG production over the long term.

"This is a great position for Santos and PNG LNG to be in - we are spoilt for choice with no shortage of healthy upstream development options to keep our LNG infrastructure full.

"At the same time, front end engineering for Papua LNG is ongoing, again with a prolific gas resource base in PNG's Eastern Highlands Province that is relatively close to LNG production and export infrastructure.

"The nearby Gulf Province is also highly prospective with exciting prospects such as Wildebeest still to be drilled.

"Santos and our joint venture partners have a world-class gas resource and LNG infrastructure position in PNG, which is well placed to continue to reliably supply our customers in Asia out to 2040 and beyond," Mr Gallagher said.

Production at PNG LNG began in April 2014 and since then the project has supplied more than 83 million tonnes of LNG to Asian customers, including our four valued long-term offtakers - CPC, JERA, Osaka Gas and Sinopec.

With an investment value of more than $19 billion, the project celebrated its tenth year of production in 2024 and has routinely exceeded its nameplate capacity of 6.9 million tonnes per annum by 30 per cent.

PNG LNG has generated more than $7 billion for Papua New Guinea and its people over this time in the form of taxes, royalties, distributions and development levy payments.

PNG LNG has relatively low greenhouse gas emissions intensity, being among the top quartile of LNG producers globally.

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