Percent complete 0 10 20 30 40 50 60 70 8 0 9 0 100 Minerva 100% Mutineer-Exeter  89 % Bayu-Undan LNG Pipeline  8 2% Bayu-Undan LNG 67% John Brookes 44% Casino 25% Oyong, Maleo, Jeruk, Sole, Kipper, Golden Beach Bayu-Undan Liquids 100% Project Lifecycle DEVELOPMENT CONVEYOR  at 31 December 2004 PROGRESS CONTINUES ELSEWHERE OFFSHORE allowing the development to progress rapidly. Another important milestone  was achieved in December with the completion of the 'Christmas tree' subsea wellheads which  will be installed on the Casino development wells. These wells are scheduled to be drilled during the first half of 2005. The John Brookes gas project has also progressed rapidly since it was sanctioned early in 2004 and is approximately 50% complete. This project is scheduled to come into production in mid-2005 to meet declining production from East Spar and to create additional marketing opportunities, some  of which have since been realised (see page 20). The platform jacket, constructed at Batam Island in Indonesia,  is expected to be installed off Dampier, Western Australia, during April 2005. Development drilling is scheduled for the second quarter of 2005 and the onshore gas processing plant modifications at Varanus Island have commenced. Three other projects, two outside Australia, made significant progress during the year. The development plan for the Oyong oil and gas field, offshore East Java, Indonesia, was revised to target early oil production. Negotiations are proceeding to secure a production barge for oil production to commence during the last quarter of 2005, ahead  of later gas production, subject  to credit security and Indonesian Government approvals. The Maleo gas field development, also offshore East Java, remains on track for a first half 2006 production start-up. The project  is on the cusp of formal sanction, with outstanding matters being execution of gas sales and gas transportation agreements.  The second stage of the Bayu- Undan project in the Timor Sea – the US$1.5 billion LNG project – also made good progress during the year. The pipeline connecting the offshore field to the LNG plant being constructed at Wickham Point, Darwin, has been laid in readiness for a planned shutdown around May 2005 to enable the tie-in of the offshore facility.  Onshore progress has been steady with the total LNG project 67% complete at year end and on target for first LNG production to commence in the first half of 2006, ramping up to more than  3 million tonnes per year by 2009. Following the discovery of oil at Jeruk, Santos is moving rapidly to evaluate the significance of the field and development options. To this end, a 3D seismic survey over Jeruk and Santos’ surrounding interests was initiated in late 2004. In addition, a focused multi-disciplinary team has been assembled to assess all development options, including the potential for early production. Santos' development conveyor  is functioning well, with the number of significant projects  in the pre-development and development stages at a  record level. Annual Report 2004 19 MODEC Venture II Floating Production, Storage and Offloading vessel, en route to Mutineer- Exeter oil fields, Carnarvon Basin, offshore Western Australia.