Cash-strapped Santos is reviewing its major sponsorship of the Aboriginal Power Cup, the flagship indigenous support program of Port Adelaide Football Club’s community development wing.

The competition is run by Port’s Power Community Ltd, which organises philanthropic projects in South Australia and the Northern Territory. It has grown since its inception in 2008, when 133 students from six schools participated, to now involve 400-plus students across more than 30 schools.

Delivered through the school curriculum, it aims to increase indigenous class attendance and school retention by integrating sport with skills training and a focus on cultural identity.

But InDaily understands oil and gas giant Santos, which has been rocked by plummeting oil prices and internal layoffs, is yet to commit to ongoing sponsorship when its current arrangement expires this year, and is actively considering withdrawing from the program.

The company’s Manager of Community & Corporate Responsibility, John Phalen, told InDaily in a statement Santos “is currently working collaboratively with the Port Adelaide Football Club to discuss our continued association with the Aboriginal Power Cup”.

“Santos has a strong track record of community investment in South Australia and has been a proud supporter of the Aboriginal Power Cup for the last six years,” he said.

“We are now looking forward to kicking off the 2015 season, with over 400 students from metropolitan and regional schools already registered for this year’s event.”

Power CEO Keith Thomas said the club was discussing future partnership arrangements with Santos, “although we are unsure what this commitment looks like”.

“Port Adelaide and Santos have enjoyed a wonderful relationship over the past five years since Santos joined us as major partner of our Aboriginal Power Cup program,” he said.

“The support from Santos has allowed the Aboriginal Power Cup to grow from humble beginnings to a massive program that this year involves 429 students from 32 schools.

“Currently we are in fruitful discussions about extending this partnership, although at this stage we are unsure as to what this commitment looks like.”

Santos chief David Knox this month flagged selling off assets, such as its Gladstone LNG gas pipeline, to raise money.

The company, which is headquartered in Adelaide, also ditched plans for a $733 million hybrid debt raising in Europe, crashing to a full-year $935 million loss in February after a massive writedown in assets.

It’s understood its sponsorship of the Power Cup amounts to around $200,000 a year, but its website states that beyond providing financial support, the company “also provides considerable in-kind support with staff volunteering to goal umpire or participate in a careers expo”.

The program culminates in the annual Aboriginal Power Cup Carnival, a three-day event focused on cultural activities, health, career and tertiary pathways, with participants receiving coaching, mentoring and support from Port Adelaide stars.

Students work on a series of curriculum tasks in the lead-up, with the highest achievers eligible to play off in the Cup “Grand Final” as a curtain-raiser before Port’s June 6 Adelaide Oval clash with the Western Bulldogs.

Phalen said Santos was a “strong supporter of training and education that increases Aboriginal workforce participation … and remains focussed on further progress in this area”.