Santos allocates up to $20m for exploration

By Godang Sitompul

Australian firm Santos said it has allocated between US$15 and $20 million in capital expenditures for exploration activities in Indonesia this year.

The firm will spud two wells ? first Merem, then Meliwis ? in Madura Offshore PSC in East Java starting in early March, Tenny Wibowo, President Director of Santos Indonesia, said.

The drilling will be carried out using Rani Woro rig owned by Apexindo Indoneisa, he said.

Santos has a 67.5 percent interest and is the operator of Madura Offshore PSC. Other partners are PC Madura Ltd and PT Petrogas Pantai Madura.

Editing by Johannes Simbolon