Santos (ASX:STO) in a recent announcement, confirmed that its Moomba Carbon Capture and Storage Project is on schedule to begin its first injection of carbon dioxide next year.

In addition, they projected their 2023 major project capital expenditure to be approximately between $1.5 to $1.6 billion.

The company has set its sights on generating cash flows in the neighborhood of $1.1 billion to $1.7 billion per annum from incremental major projects once they are operating at full production rates.

Santos (ASX:STO) is forecasting its GLNG project to yield around 6 MT in 2023.

They also acknowledged that global liquefied natural gas (LNG) demand has been continually ascending.

They highlighted the persisting scenario in Asia-Pacific, where the demand for LNG is continually outpacing supply.

The company noted that its exposure to LNG markets is expanding via its interests in Barossa and Papua LNG.

Finally, the company is eyeing a free cash flow breakeven at less than $35 per barrel of oil price throughout the oil price cycle in the Fiscal Year 2023.

Guidance for FY23 upstream unit production costs stays unaltered at $7.25 to $7.75 per barrel of oil equivalent.

Santos is an Australian company primarily involved in petroleum operations.