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AAP
AAP
Derek Rose

Santos cuts dividend, says Barossa project nearly done

Santos Barossa Darwin
Santos won the case to proceed with its Barossa project after a challenge from Tiwi Island elders. (James Ross/AAP PHOTOS)

Australia's second-biggest oil and gas producer says its $5.7 billion gas project in the Timor Sea north of Darwin is months away from completion.

The Barossa LNG project is 91 per cent finished and on track for first gas in the third quarter of this year, Santos said on Wednesday while also announcing it was cutting its dividend after a drop in full-year profit driven by lower commodity prices.

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