What is Santos' target for net debt reduction and by when?

Santos aims to trim its net debt by $2.5 billion by 2030.

How does Santos plan to improve margins in its Australian domestic oil and gas business?

Santos will repurpose its Australian domestic oil and gas business as a lower capital-intensity, higher-margin operation focused on meeting domestic gas supply and decommissioning commitments, while also saving $300 million in capital expenditure between 2027 and 2030—and an additional $150 million thereafter—by prioritising higher-margin production in the Moomba Central fields in the Cooper Basin and deprioritising other areas of the basin.

Australia's Santos aims to slash net debt by $2.5 billion, focus on LNG output

May 25, 2026

Australia's Santos targets a $2.5 billion net debt reduction by 2030, prioritizing investment in major oil and LNG production within tier-1 basins. The strategy involves repurposing domestic operations and cutting capital expenditure to enhance margins.

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