Beleaguered Santos will cut 200 jobs at its eastern Australian business unit as it digs deeper to reduce costs.

However, it won't be letting up on its pursuit of asset sales, where some initial deals are expected within weeks.

Santos chief executive David Knox is cutting more costs and jobs from the oil and gas player. Credit:David Mariuz

The latest job reductions, announced to staff on Monday, come on top of the 565 job cuts advised by the debt-laden oil and gas producer at its half-year results in August, when it also embarked on a strategic review to try to restore shareholder value.

Most of the latest round of redundancies from the nearly 3000 staff are understood to be roles based at Santos' Adelaide headquarters, supporting operations in the Cooper Basin, Northern Territory and Victoria.