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FINWIRES

Santos Proceeds With Production Facility Tie-In Project in Papua New Guinea

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Santos (ASX:STO) made a final investment decision to proceed with the Agogo production facility tie-in project in Papua New Guinea after the approval by the PNG LNG joint venture to deliver gas from the facility to the PNG LNG gas pipeline, according to a Tuesday filing with the Australian bourse.

The company's share of capital expenditure is roughly AU$160 million, with gross capital expenditure totaling around AU$400 million over three years, the filing said.

First gas is expected to be produced in the second quarter of 2028.

The company holds a 39.9% stake in the joint venture, per the filing.

Shares rose nearly 1% in morning trade Tuesday.

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