(MENAFN) Australia's Santos' CFO, Andrew Seaton, stated that the oil and gas firm forecasts its output to grow to between 53 million and 57 million barrels of oil equivalent (mboe) next year, reported Xinhua News.
Seaton said that the volume represents a gain of 4 percent on Santos projection for 2012.
He said that new projects will start soon, which will play a key role in enhancing production of the company that expects to see its capital expenditure growing to USD4.15 billion in 2013 from a projected USD3.63 billion in 2012.
Santos forecasts a strong production from its base business and the introduction of the Fletcher Finucane oil field off the coast of Western Australia in next year's second half, while output from the Chim Sao oil field off the coast of Vietnam was forecasted to plateau.
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