Australia’s Santos Warns of Lower Natural Gas Production

Australia’s energy major Santos has said it expects lower natural gas production next year as its Bayu-Undan offshore gas field nears depletion. While the level of gas production for 2024 is in line with analyst expectations, at between 89 and 93 million barrels of oil equivalent, it is lower than the expected output level for this year, Reuters noted in a report. The Bayu-Undan field is located in the Timor Sea and was discovered in the 1990s. Commercial production began in 2004 with ConocoPhillips as the operator and Santos among the minority…