Santos lifted sales revenue and production in the December quarter, despite a sharp slide in oil prices.

The oil and gas company lifted production and sales of oil and gas eight per cent during the three months to December 31, while sales revenue rose three per cent to $1.09 billion.

Santos produced 54.1 million barrels of oil equivalent (mmboe) during the 2014 calendar year, which was within its guidance range of 53-55 mmboe, while the average oil price during the quarter fell 20 per cent in Australian dollar terms to $A92 per barrel.