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expos held across Santos’ sites and offices and there has been a noticeable increase in gym memberships provided by Santos.

There was strong participation by Santos employees in other initiatives including confidential health checks, education programs on men’s and women’s health (470 participants), sleep (440 participants) and healthy eating (450 participants), and physical fitness programs, including providing gyms and fitness programs such as ‘Walk the Moomba pipeline’ (400 participants) and ‘Biggest Loser’ (150 participants).

OIL SPILLS DECREASE

Santos’ oil spill prevention strategy continued to be a major focus in 2006 and for the third year in a row the Company reduced the volume of spills during the year.

Santos is focused on reducing the number of oil spills as well as the total volume of oil released.

EXPANDING RESPONSE TO CLIMATE CHANGE

Since the publication of its Greenhouse Policy in 2004, Santos’ scope of activities to manage greenhouse emissions has expanded from compliance reporting and energy efficiency to broader concepts of research and development, target setting, emissions forecasting and identifying lower greenhouse- emitting energy sources.

To steward various aspects of the Greenhouse Policy, Santos has established a framework for greenhouse management and created three cross-functional teams with different functional leads:

  • governance, policy and reporting – aiming to position Santos as an energy industry leader in the effective response to climate change;

  • energy efficiency – targeting a reduction in energy use per unit of product produced; and

  • carbon business – focusing on generating value from Santos’ carbon assets and building competencies in carbon services where there is competitive advantage, so offsetting the commercial risk of greenhouse emissions.

Natural gas is the lowest greenhouse gas-emitting fossil fuel, providing a transition fuel to future cleaner energy sources. Santos is also pursuing greenhouse gas abatement projects such as energy efficiency and carbon capture and storage.

Santos participates in a number of voluntary greenhouse reporting programs including disclosure of emissions to the Australian Greenhouse Office Challenge Plus program, Carbon Disclosure Project and Dow Jones Sustainability Index.

OFFSHORE BIODIVERSITY RESEARCH PARTNERSHIPS

Santos has worked closely with regulatory authorities and Deakin University researchers since 2002 to better understand the distribution and behaviour of the whales during seismic surveys off south-eastern Australia. In 2006, the Company also contributed significant funds towards the purchase by Deakin University of a specialist vessel to observe whale behaviour.

OIL SPILL VOLUMES m3

2000

Lytton oil spill effect

1500

1000

500

0

‘02

‘03

‘04

‘05

‘06

Santos reduced the volume of oil spills for the third consecutive year.

GREENHOUSE GAS EMISSIONS million tonnes CO2 equivalent (net Santos production)

4.2 4.1 4.0 3.9 3.8 3.7 3.6

‘02 ‘03 ‘04

‘05

Australia

United States

Papua New Guinea

Indonesia

Santos reports its total greenhouse emissions and emissions intensity mid-year as a ratio of greenhouse emissions per unit of production, and is on track to meet its target of 20% intensity reduction in the period 2002–08.

Santos Annual Report 2006 29

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