Santos Limited is set to add more than three million barrels of oil equivalent to its annual production following signing of final approvals for the giant Bayu-Undan gas development by the Timor Sea Designated Authority. âThis project, involving Timor-Leste and Australia, will be the first cross-border LNG project in the region and the second LNG project in which Australia is involved,â? Managing Director, Mr John Ellice-Flint, said today. âIt increases total revenue from the Bayu-Undan project (liquids and LNG) to over ASD 30 billionâ?. The LNG development is the second stage of the Bayu-Undan project and is estimated to cost around USD 1.5 billion.
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