What environmental bond has Santos put up?
For each PEL, Santos is required to and has lodged substantial financial securities to ensure fulfillment of obligations under the petroleum legislation. The amounts required vary from permit to permit, are set at the Minister’s discretion and are enough to cover the costs associated with rehabilitating and restoring sites. As activities in the PEL increase, the Government directs the titleholder to lodge additional securities as appropriate to cover operations.
