According to The Australian Financial Review, Santos chief executive Kevin Gallagher has highlighted the oil and gas producer's ability to pursue its two near-term growth projects in Western and northern Australia after posting a bigger-than-expected surge in first-half profits and a beefed-up dividend.
Both the Dorado oil and gas project in Western Australia, where Santos is fielding keen interest from prospective partners, and the Barossa gas project in the Timor Sea are rapidly heading towards development.
Mr Gallagher said that Dorado, where Santos announced a 68 per cent increase in resources, now represented a bigger reserves pool for the company than its business in Papua New Guinea, where an expansion project has been slowed by the change of prime minister.
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