GRADUATE AND VACATION EMPLOYMENT PROGRAM

GRADUATE AND VACATION EMPLOYMENT PROGRAM

CONTENTS Introducing Santos...1 Vision, strategy & values...2 Graduate program...3 Graduate development program...4 Employment benefits...6 Geoscience disciplines...7 Engineering disciplines...8 Vacation employment program...9 Adelaide Santos Ltd Ground Floor, Santos Centre 60 Flinders Street Adelaide South Australia 5000 Telephone 08 8116 5000 Facsimile 08 8116 5050 Brisbane Santos Ltd Level 22, Santos Place 32 Turbot Street Brisbane Queensland 4000 Telephone 61 7 3838 3000 Facsimile 61 7 3838 3700 www.santos.com PERSON P111

INTRODUCING SANTOS An Australian energy pioneer since 1954, Santos is one of the country s leading gas producers, supplying Australian and Asian customers. Santos has been providing Australia with natural gas from the remote outback for more than 40 years. The company today is the largest producer of natural gas to the Australian domestic market, supplying 18% of the nation s gas needs. Santos has also developed major oil and liquids businesses in Australia and operates in all mainland Australian states and the Northern Territory. From this base, Santos is pursuing a transformational liquefied natural gas (LNG) strategy with interests in four exciting LNG projects. This strategy is led by the cornerstone GLNG project in Queensland a leading project in converting coal seam gas into LNG. Also in Santos LNG portfolio are the PNG LNG project, which was formally approved in December 2009, Bonaparte LNG, a proposed floating LNG project in the Timor Sea, and Darwin LNG, Santos first LNG venture, which began production in 2006. Santos has built a strong and reliable production business in Indonesia and is further developing its Asian business through development projects and exploration investment. In 2009, Santos s total production was 54.4 barrels of oil equivalent. We have the largest Australian exploration portfolio by area of any company 133,800 square kilometres. Santos has about 2000 Australian-based employees working across its operations, and offices in Adelaide, Brisbane, Perth, Gladstone, Roma, and Gunnedah. The company has 170 employees in Jakarta, and country offices in Port Moresby, Hanoi, New Delhi, Bishkek and Dhaka. Kyrgyz Republic Fergana Basin Bangladesh Bengal Basin (Sangu) India NE Coast Basin Kutei Basin Hiu Aman East Java Basin Jeruk, Maleo, Oyong, Peluang, Wortel Browse Basin Carnarvon Basin Barrow, John Brookes, Legendre, Mutineer-Exeter, Reindeer, Stag, Thevenard LEGEND Exploration Production Processing and load-out facility Vietnam Phu Khanh Basin Nam Con Son Basin Chim Sao, Dua Otway Basin Casino, Henry, Minerva, Shaw River Power Station Timor Sea and Timor Gap Bayu-Undan, Darwin LNG, Jabiru-Challis Bonaparte Basin Barossa, Caldita, Evans Shoal, Petrel, Tern Port Bonython Wickham Point West Papua and Papua New Guinea Barikewa, Hides, PNG LNG, SE Gobe Amadeus Basin Brewer Estate, Mereenie, Palm Valley Cooper Basin Ballera, Jackson, Moomba Surat/Bowen Basins Fairview, Gladstone LNG, Roma, Scotia, Wallumbilla Gunnedah Basin Gippsland Basin Kipper, Patricia-Baleen, Sole Graduate and Vacation Employment Program 1

VISION, STRATEGY & VALUES Santos vision is to be a leading energy company for Australia and Asia by delivering the base business, tapping our resource riches, being a great place to work and doing it safely and sustainably to deliver a superior shareholder return. VISION, STRATEGY & VALUES Santos has a robust strategy to achieve this through: Reliable base business: > > Eastern Australia: margin growth and resource conversion > > Indonesia: established business with incremental growth > > Western Australia: growing a material domestic gas business Transformational LNG: > > GLNG: a leading CSG-to-LNG project underpinned by quality reserves > > PNG LNG: approved in 2009 with first production in 2014 > > Darwin LNG: LNG production since 2006, mature brownfield growth > > Bonaparte LNG: innovative proposed floating LNG project VALUES We are a team that: > > Discovers by opening our minds to new possibilities, thinking creatively and having the courage to learn from successes and failures, to take on new challenges, to capture opportunities and to resolve problems. > > Delivers by taking personal responsibility and pride in our work to deliver timely, quality results that benefit Santos and help achieve our vision and strategy. > > Collaborates by recognising the value and power in diversity of thought and communicating openly to understand the perspectives of others; demonstrating leadership by sharing what we know and respectfully challenging each other to achieve the best results for all. > > Cares by taking the long-term view to build a sustainable future for our company, our people and the environments and communities in which we operate. Focused growth in Asia: > > Vietnam: develop Chim Sao and exploration-led growth > > India/Bangladesh: Bay of Bengal exploration-led growth > > Kyrgyz Republic: exploration prospects in proven oil and gas provinces 2

GRADUATE PROGRAM Our graduate program is an integral part of Santos capability development strategy. Its goal is to ensure that we attract and retain the best graduates and provide them with career a path and opportunities for growth and development through planned training strategies and rotations. The key features of our program are: > > Targeting premier Australian tertiary institutions to attract high quality graduates who best fit the Santos graduate profile and are results-orientated with attributes that include demonstrated initiative, effective communication skills and a commitment to achieving commercial outcomes through technical excellence. > > A structured interview and selection process, where all candidates are given the same opportunity to demonstrate the required attributes. This is achieved by utilising a consistent candidate evaluation process. > > Offering excellent training and development opportunities and providing challenging career prospects. > > A beneficial Buddy Mentor Program to assist first year graduates with career advice and counselling. This provides the opportunity for graduates to understand the company culture, assists them in settling into their new surrounds and develops them for their professional careers. > > A structured Job Rotations Program that facilitates the graduate s accelerated development, underpinning their advancement during the first five years of joining Santos. Graduate and Vacation Employment Program 3

GRADUATE DEVELOPMENT PROGRAM The graduate development program aims to develop the graduate to effectively contribute to the achievement of company goals and at the same time provide exciting challenges in developing their careers. Graduate induction program This program is designed to assist our first year graduates to feel comfortable in their new environment and quickly find their feet within the company. It is also designed to facilitate network building that provides further support and cohesiveness at the peer group level. Performance management system On commencement, the graduate enters the company s Performance Management System which contains the following elements: > > Setting of performance/behavioural objectives on commencement of employment. > > Review of performance on an ongoing basis, and formally during December to February as part of our company-wide annual review process. There is a direct linkage between performance and remuneration. Job rotations The rotations program provides extensive on-the-job training as well as structured business and development courses tailored for new industry entrants. Built into the program is the ability for graduates to rotate through various teams, departments, business units or across business locations. A forum of senior managers monitors the graduates rotations through various work experiences. Mentors At the commencement of the graduate s employment, each graduate will automatically be assigned a Technical Mentor, who will provide ongoing technical support, and a Support Buddy to assist the graduate with settling into the organisation. 4

Technical focus Santos offers wide-ranging technical opportunities that are exciting and challenging for a new ambitious graduate. Within the company s diverse portfolio, graduates can explore the very real career opportunities that span across onshore and/or offshore operations within the oil and gas industry. We use the latest industry software applications and our training and development philosophy ensures the highest level of technical competence. Graduate group This Group is formed by graduate volunteers and represents all graduates within the Graduate Program. The purpose of the Group is to develop a social atmosphere for existing graduates by organising regular social functions, assisting new graduates in networking, being actively involved in graduate recruitment and contributing to ongoing improvements within the Graduate Program. Santos DEVELOPMENT > Performance review > Job rotation > Training and development GRADUATE SUPPORT > Induction (1st year only) > Technical Mentor > Support Buddy > Graduate Group Graduate and Vacation Employment Program 5

EMPLOYMENT BENEFITS Santos offers competitive remuneration packages, including: > > Superannuation plan > > Peformance bonus scheme > > Share plans > > Salary sacrifice scheme > > Banking discounts > > Study assistance and education programs > > Employee assistance program > > Gym membership > > Corporate health plan with MBF > > Professional memberships > > Relocation assistance, where applicable > > Active graduate group and social club The salary offered at the graduate s commencement compares favourably with other Australian companies and is reviewed annually based on market conditions. 6

GEOSCIENCE DISCIPLINES Santos employs graduates with degrees in geology and geophysics. We are looking for graduates who have a strong work ethic, are diligent and committed and bring a strong technical base as demonstrated by their academic record and previous work experience. Initially, you will be assigned to one of these specific roles as a graduate geoscientist: Geologist Responsible for assessing the hydrocarbon potential of sedimentary basins and prospects, including regional basin analysis, hydrocarbon systems analysis, detailed structural and stratigraphic studies incorporating surface and subsurface information, hydrocarbon play analysis and risk assessment. Also responsible for developing depletion plans for producing and yet to be developed fields, including focused reservoir studies and building computer based 3D geological reservoir models. velocity analysis and depth conversion, and seismic attribute analysis. Petrophysicist Responsible for integrating well data and well logs to arrive at evaluations of the oil and gas content and productivity of wells and accumulations. Palynologist Responsible for the provision of subsurface age determination, inferred stratigraphic correlation, depositional environments, hydrocarbon source rock potential and maturity data by analysing the organic matter contained in the sediments. Geophysicist Responsible for seismic data analysis, including structural and stratigraphic interpretation, geophysical modelling, Graduate and Vacation Employment Program 7

ENGINEERING DISCIPLINES Santos employs graduates from a number of engineering disciplines including petroleum, chemical, mechanical/mechatronic, environmental, electrical and civil, as well as students with maths and physics degrees. We are looking for graduates with a strong work ethic, diligence and commitment to bring a strong technical base, demonstrated by their academic record and previous work experience. Initially, you will be assigned to specific roles as a graduate engineer: Reservoir engineers Responsible for identifying the appropriate reservoir development and depletion plans to maximise the present value of hydrocarbon reservoirs using a variety of tools from software packages to complex computer models. Petroleum engineers Responsible for preparing completion designs, cost estimates and programs for the servicing and maintenance of new and existing production wells, plus supporting these programs in the field. Drilling engineers Responsible for preparing well designs, cost estimates and drilling programs for new wellbores and supporting these programs in the field. Production engineers Responsible for optimising and trouble shooting of field gathering and compression facilities, planning for future connections, commissioning of facilities and equipment and maximising field performance. Plant engineers Responsible for optimising and trouble shooting processing facilities and equipment, planning for future demands, commissioning of facilities and equipment and performance surveillance. Design engineers Responsible for preparation of designs for new facilities to enhance processing capacity or to extend field gathering systems and specification and selection of equipment. Planning engineers Responsible for long-term optimisation of major groups of fields, and developing detailed economic assessments for a range of projects and commercial opportunities. Environmental engineers Responsible for evaluating the environmental risks and impacts of engineering projects, conducting auditing and advising on application of environmental law and industry standards to work practices. 8

VACATION EMPLOYMENT PROGRAM Santos offers 12 weeks vacation employment to geoscience and engineering students who are currently in their penultimate year of undergraduate study. This employment is offered during the summer period from November to February each year. What the program provides Students in the program will be given the opportunity to improve their technical skills and enhance their personal development. The program provides hands-on experience through challenging project work. Feedback At the conclusion of the program, students receive structured performance feedback from their Project Leader. Additionally, they are invited to provide their own feedback through an exit questionnaire. Program benefits Students have an opportunity to determine their interest in the oil and gas industry and the company has an opportunity to assess students for possible graduate positions in the following year. Location of work Project work will be based in our Adelaide or Brisbane office. Some projects will require students to travel to our site locations in South Australia and Queensland during their employment period. Graduate and Vacation Employment Program 9