Santos posted an 18 per cent drop in quarterly sales on lower oil and gas prices.
The Barossa project in the Timor Sea is on target to produce in the first half 2025.
However, Santos is still waiting on the approvals to proceed with drilling at Barossa.
Santos lowered its guidance for capital expenditure this year amid a delay in drilling at its Barossa gas project in the Timor Sea, but it is still aiming to resume work at the site by the year-end after resubmitting the environment plan for the controversial venture.
Capex directed to growth projects this year was now likely to be between $US1.5 billion ($2.2 billion) and $US1.6 billion, rather than about $US1.8 billion, Santos said on Thursday in a quarterly report in which it also marginally downgraded guidance for annual production.
