Santos abandons Korinci Utara 1 well in C. Sumatra

Australian oil and gas firm Santos Limited on Thursday said that it had plugged and abandoned Korinci Utara 1 appraisal well in Korinci-Baru production sharing contract (PSC) area onshore Central Sumatra after the well reached total depth of 1,050 meters.

According to Santos, the rig is moving to drill Baru Barat 1, a gas exploration/appraisal well in the Korinci-Baru PSC.

Santos is conducting appraisal drillings in Korinci-Baruto prepare for gas sales from Sumatra to West Java, which is scheduled to commence in 2005.

Santos, the block operator, holds 61.11 percent working interest in Korinci-Baru PSC, while another Australian firm Petroz holds the remaining 38.89 percent. (alex)