Annual Report 200472
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2004
23. Interests in Joint Ventures
(a) Santos Ltd and its controlled entities have combined interests in unincorporated joint ventures in the following major areas:
Joint venture/area Principal activities Average interest
%
Amadeus Basin
Mereenie Oil and gas production 65
Mereenie Pipeline Oil transportation 65
Palm Valley Gas production 48
Browse Basin Oil and gas exploration 74
Carnarvon Basin Oil and gas exploration and production 32
Cooper Basin Downstream Liquid hydrocarbon transportation and processing 65
Cooper Basin Unit
South Australia Oil and gas production 65
Queensland Oil and gas production 60
Cooper/Eromanga Basins
South Australia Oil and gas exploration and production 65
Queensland, ATP 259P Oil and gas exploration and production 60
Other Eromanga Oil and gas exploration and production 74
Jackson Moonie Pipeline Oil transportation 83
Eastern Queensland
Bowen Basin Gas exploration and production 50
Surat Basin Oil and gas exploration and production 48
Egypt
Gulf of Suez Oil and gas exploration 50
Gippsland Basin Oil and gas exploration and production 35
Indonesia
East Java Basin Oil and gas exploration and production 42
Kutei Basin Oil and gas exploration 35
West Natuna Basin Oil and gas exploration and production 6
West Papua Oil and gas exploration 20
Offshore Northern Australia
Bonaparte Basin Oil and gas exploration 95
Houtman Basin Oil and gas exploration 42
Timor Gap Oil and gas exploration and production 17
Timor Sea Oil and gas exploration and production 22
Otway Basin Oil and gas exploration and production 36
Papua New Guinea
PDL1 (Part Hides Field) Oil and gas exploration 31
Other interests Oil and gas exploration and production 31
Sorell Basin Oil and gas exploration 58
USA
Gulf Coast Oil and gas exploration and production 39
Rocky Mountains Oil and gas exploration and production 50
(b) The sales revenue received from the Santos Group’s share of petroleum products produced by the joint ventures is $1,493.5 million
(2003: $1,451.2 million) and the contribution of joint venture business undertakings to profit from ordinary activities before interest and tax
of the Santos Group is $581.3 million (2003: $496.7 million).
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