No profit, falling production, inadequate maintenance, a safety plan in limbo and a big clean-up if exploration fails: challenges aplenty at the Canadian company's only offshore facility.
Santos' decommissioning liability matches a quarter of its $22b value, but its disclosures to investors fared poorly against the latest accounting standards, according to an international survey.
The Pilbara region in north west WA is the source of two major Australian exports - iron ore and gas - and produces other commodities including lithium and salt.
Canadian firm Vermilion judged the chance of the December spill as "rare" - the same probability it claims for seven planned exploration wells that could affect anywhere along the Pilbara coast.
Troubled UK oil and gas major BP has exited its third WA alternative fuel project in six months, walking away from the Australian Renewable Energy Hub after just two years.
