The non-core assets in Asia are in Indonesia, Malaysia, Bangladesh and Vietnam. There is production in Indonesia and Vietnam, while Malaysia and Bangladesh are exploration venues.

Non-core in Australia are mature liquids assets including Mutineer-Exeter, Barrow, Thevenard and Otway-Gippsland, plus two onshore gas assets, Narrabri and Meerenie.

Santos said the non-core assets will now be packaged and run separately as a standalone business led by former AWE chief executive Bruce Clement.

Clement