Proven and probable reserves underlying Australia’s GLNG project grew more slowly than planned in 2011, according to shareholder Santos.
The 2P figure rose to 6000 petajoules during the year, up 19.8% over the 5009 PJ reported a year ago.
“Wet weather delayed drilling and connection activity during the year, resulting in reserves additions being less than originally planned,” the company said.
The 2P reserves included 750 PJ contributed by Santos. The Sydney-listed explorer owns 30% of the project.
Chief executive David Knox pointed out the company has 10,000 PJ of 2P reserves and 2C contingent resources in eastern Australia outside of its GLNG allotment.
