With an emphasis on supporting the local community, Santos GLNG has proudly partnered with RACQ CapRescue for over ten years. Their ongoing financial support ensures our vital lifesaving aeromedical service continues to operate not only for industry usage but also for the residents of Central Queensland.
Our invaluable aeromedical search and rescue service covers an area of over 350,000km2, which is home to approximately 300,000 people.
Santos GLNG’s support of Central Queensland is strong, with a boost in local Queensland jobs and the economy expected following an investment of $360 million to drill and connect more than 130 new production wells in the Fairview gas field.
Work began in June 2022, with the first gas anticipated in October this year.
At peak production, the project is anticipated to produce around 78 terajoules per day. This is the equivalent to approximately 25 per cent of domestic demand in QLD.
Santos, managing director and CEO Kevin Gallagher, said that while the gas will feed the GLNG plant in Gladstone and generate export revenue to the nation, investments such as these free up other supply sources for the domestic gas market.
“Queensland’s coal seam gas would never have been developed without access to huge international markets and the massive capital investment of our joint venture partners and customers in Asia,” said Gallagher.
“Without that investment, there would be less gas supply in the domestic market today.”
Since the GLNG project was sanctioned just over a decade ago, Santos and its GLNG partners have contributed nearly $300 million in royalties to state revenues.
“Not only will this new investment provide ongoing employment for 160 drilling and construction contractors over the next two and a half years, it will deliver an additional $91.5 million in royalties for QLD,” Gallagher said.
“Importantly, local communities and businesses will benefit with over $100 million to be spent on local goods and services to support the project.”
The investment is set to see an extra $600,000 go to the Maranoa and Banana Regional Councils for road upgrades and maintenance during the project’s lifespan.
“This incremental investment in Fairview fits with our low cost, disciplined operating model and builds on Santos’ commitment to Queensland and the Maranoa and Banana Regions,” said Gallagher.
Operations Manager Kirsty Wooler recognised the significance of the investment in the Banana Shire, which is frequented by the RACQ CapRescue crew.
“In the past financial year, we have performed over 90 tasks in the Banana region, including six Primary Motor Vehicle accidents. The injection of funds into the area, including road maintenance and services, will be immeasurable for the local community,” said Ms Wooler.
(Source: Oil and Gas News: Santos scores $360m investment in Fairview – https://www.oilandgastoday.com.au/santos-scores-360m-investment-in-fairview/)