Boom for Santos
NZPA-AAP Adelaide The billion dollar Cooper Basin gas and liquids project has provided substantial rewards for two of its partners with operator, Santos, Ltd, reporting an 80.9 per cent jump in annual profit and smaller partner, Vamgas, lifting annual earnings 77.9 per cent.
Earnings by Santos in the 12 months to December 31 rose sAust2l.76M to 148.68 M while annual profit by Vamgas was $3.42M higher at $7.81M. The chairman of Santos, Mr Alex Carmichael, said the rise in revenue was due to the start up of crude oil and condensate
sales in the early months of 1983.
Sales rose 125.4 per cent to $148.95M.
Annual dividend has been increased 50 per cent to 12 cents ■ after directors announced a steady final dividend of 6 cents.
Vamgas, a subsidiary of Woodside, said the 126.9 per cent jump in sales to $29.45M was mainly because of the liquids project and increased revenue from gas sales. Directors said crude oil and condensate sales were $14.56M of the total sales figure in 1983 with gas sales accounting for $2.18M.
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Press, 8 March 1984, Page 28
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179Boom for Santos Press, 8 March 1984, Page 28
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