Santos provided production guidance for the year 2020. The company upgraded its 2020 production guidance to 87-89 million barrels of oil equivalent (mmboe) and lowered its production cost guidance to $8.00-8.50/boe. The upgrade in production guidance, from 83-88 mmboe, is due to strong operating performance across the base business and represents 15-18% production growth for the year and more than 50% growth since 2015. Santos is also on track to deliver the production cost reductions announced in March in response to the COVID pandemic, which sees 2020 guidance lowered to $8.00-8.50/boe.