HOUSTON, March 10 (Reuters) - Australian oil and gas
producer Santos will look to increase investments in
the United States because of the pro-energy policies of U.S.
President Donald Trump's administration, Santos CEO Kevin
Gallagher said on Monday.
Trump is seeking to maximize domestic oil and gas output,
and has overturned many of the policies of his predecessor Joe
Biden that aimed to spur a transition to a lower-carbon economy.
"We will invest more in the U.S. because it is an attractive
proposition because the U.S. now has a comparative advantage
against other countries," Gallagher said in remarks at the
CERAWeek conference in Houston.
Santos could further invest in its Pikka project in Alaska,
where the company expects first oil production in mid-2026,
Gallagher told Reuters on the sidelines of the conference.
"The U.S. has very pro development policy settings and we
have a great project in Alaska and potential around it and the
opportunity to invest there in the future," said Gallagher.
The first phase of the Pikka project, which is expected
to produce 80,000 barrels per day (bpd) of oil, is only 25% of
the discovered resource, said Gallagher. He declined to give
details on what future production could be with more investment.
Gallagher told investors last month that Santos' annual
oil and gas production would grow by over 30% in two years, in
part because of the Pikka project.