Santos will sack 200 people as project delays spoil returns

Santos blamed delays to its major growth projects for a decision to slash 200 jobs, mainly in Perth, as gas developments are held up in regulatory issues and legal challenges.

The reliance on new projects has taken on greater importance at Santos because many of its legacy assets are being depleted. One of its big growth bets, the $5.8 billion Barossa gas development off Darwin in the Timor Sea, was held up by an unsuccessful Federal Court challenge funded by environmental activists.