Sales revenue increased by 14% to A$1.4 billion for the first half of 2008, compared to the first half of 2007. Higher commodity prices were evident across the Santos portfolio, with average realized oil, condensate and natural gas prices increasing by 45%, 42% and 4%, respectively.
Earnings before interest, tax, depreciation, amortization and exploration increased by 6% to A$1.03 billion in the first half of 2008, and underlying net profit after tax increased by 30% to A$289 million.
Production of 27.6 million barrels of oil equivalent for the half year period in 2008 was 8% lower than for the same period in 2007, primarily due to higher downtime at producing assets in Western Australia, including the impact of the Varanus Island incident on John Brookes field production, partially offset by new production in Asia and higher production of coal seam gas.
