Energy company Santos to cut 200 jobs in effort to slash costs

Santos is cutting about 200 jobs in an effort to slash costs by $100 million over three years and reduce its near-$9 billion debt.

The oil and energy producer says the majority of the jobs are Adelaide-based office roles and that the cuts are "consistent with the objective" of a strategic review led by executive chairman Peter Coates.

Santos shares dipped from more than $15 in August 2014 to less than $4 at the end of September in the wake of news that boss David Knox is set to step down after net profit for the six months to June 30 plummeted 82 percent. At 1554 AEDT, Santos shares were worth $5.92.

The job cuts announced on Monday are on top of the 565 announced in the those first-half results.