In August, the Queensland Supreme Court ruled in favour of Santos in proceedings the company brought against Fluor Australia.
The proceedings arose under an engineering and construction contract that Santos entered with Fluor in 2011 for the development of production facilities that formed part of the Gladstone LNG (GLNG) project.
Construction took place between 2011 and 2014.
The Santos-operated 7.8 mtpa GLNG plant is located on Curtis Island near Gladstone.
GLNG is a joint venture of Santos, Malaysia’s Petronas, France’s TotalEnergies, and Kogas.
Santos said in a statement on Thursday that Fluor Australia has paid A$1.073 billion ($708.8 million) following the Queensland Supreme Court’s judgment delivered on August 8.
According to Santos, settlement funds received, net of GST and legal fees, will allow Santos to recognise its net share of the proceeds on the company’s balance sheet (approximately A$240 million, equivalent to $160 million).
Santos noted in the statement that in October 2025, Fluor appealed the Queensland Supreme Court’s judgment.
“Should the appeal be upheld, some or all of the funds may be directed to be returned,” the company said.
The appeal hearing is currently scheduled to take place in July 2026.
