The company posted a loss of nearly A$2.7 billion (US$1.9 billion) for 2015, compared to a loss of A$935 million the previous year.

Last year's fall into the red was largely attributable to impairments of A$2.8 billion, after tax, which Santos said primarily related to its Cooper basin gas producing assets, Gladstone liquefied natural gas (GLNG) assets and Gunnedah basin assets.

Santos