CERAWEEK-Australia's Santos to hike investment in US due to pro-energy policy - CEO

By Curtis Williams

HOUSTON, March 10 (Reuters) - Australian oil and gas producer Santos STO.AX will look to increase investments in the United States because of the pro-energy policies of U.S. President Donald Trump's administration, Santos CEO Kevin Gallagher said on Monday.

Trump is seeking to maximize domestic oil and gas output, and has overturned many of the policies of his predecessor Joe Biden that aimed to spur a transition to a lower-carbon economy.

"We will invest more in the U.S. because it is an attractive proposition because the U.S. now has a comparative advantage against other countries," Gallagher said in remarks at the CERAWeek conference in Houston.

Santos could further invest in its Pikka project in Alaska, where the company expects first oil production in mid-2026, Gallagher told Reuters on the sidelines of the conference.

"The U.S. has very pro development policy settings and we have a great project in Alaska and potential around it and the opportunity to invest there in the future," said Gallagher.

The first phase of the Pikka project, which is expected to produce 80,000 barrels per day (bpd) of oil, is only 25% of the discovered resource, said Gallagher. He declined to give details on what future production could be with more investment.

Gallagher told investors last month that Santos' annual oil and gas production would grow by over 30% in two years, in part because of the Pikka project.