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Santos Reaches Key Milestone in Pikka Phase 1 Project

Story Highlights
  • Santos Limited has advanced its Pikka phase 1 project with key modules arriving in Alaska.
  • The Pikka and Barossa projects are set to increase Santos’ production by 30% by 2027.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Santos Reaches Key Milestone in Pikka Phase 1 Project

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Santos Limited ( (AU:STO) ) has issued an update.

Santos Limited has achieved a significant milestone in its Pikka phase 1 project with the safe arrival of key processing modules at Oliktok Point, Alaska. This development is part of a complex logistical operation and marks substantial progress towards the project’s completion, which is nearly 90% finished. The Pikka project, along with the Barossa LNG project, is expected to boost Santos’ production by 30% by 2027, ensuring long-term stable cash flows and supporting future growth and shareholder returns.

The most recent analyst rating on (AU:STO) stock is a Buy with a A$8.80 price target. To see the full list of analyst forecasts on Santos Limited stock, see the AU:STO Stock Forecast page.

More about Santos Limited

Santos Limited is a prominent player in the energy sector, focusing on the exploration and production of oil and gas. The company is involved in significant projects aimed at increasing production and ensuring stable cash flows, with a market focus on long-term growth and shareholder returns.

Average Trading Volume: 11,475,524

Technical Sentiment Signal: Buy

Current Market Cap: A$25.11B

See more insights into STO stock on TipRanks’ Stock Analysis page.

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