Australian upstream company Santos Limited said it will proceed with the development of the offshore Mutineer-Exeter oil field at a cost of A$480 million (US$1=A$1.45). Operator Santos, with a 33.4% stake in the project, expects to begin producing up to 80,000 barrels/day from mid-2005, building up to around 100,000 b/d over the next six months….