Further to the announcements of 29 December 2023 and 1 February 2024, Santos has announced completion of the sale of a 2.6% interest in PNG LNG to Kumul Petroleum Holdings Ltd (Kumul).
Santos has received the final payment of US$241 million, taking total cash consideration to US$602 million. In addition, Kumul will assume approximately US$90 million of existing project finance debt associated with the sale interest.
Effective 4 November 2024, Santos’ working interest in PNG LNG is 39.9%. There is no change to Santos market guidance for 2024.