Santos expects to have E. Java gas field PoD approved Dec

Australian oil, gas firm Santos expected to have plan of development (PoD) approved by upstream oil, gas regulator BPMIGAS for its Wortel gas field in Sampang PSC, offshore East Java in this month.

Final investment decision (FID) is targeted in mid of 2010, with first gas production from Wortel gas field is expected in the second semester of 2011, Santos said in presentation material released on Wednesday.

Under the plan, development would consist of a well head platform on the field, with two deviated development wells, and a pipeline to the Oyong facilities, 7kms to the east.

Santos said in February 2008 that Wortel discovery would be able to produce gas at the rate of 40-60 MMCFD.

Wortel has recoverable reserves of between 60-130BCF

Participants in the Sampang PSC are: Santos (Sampang) Pty Ltd (Operator) 45%, Singapore Petroleum Company Limited 40%, Cue Sampang Pty Ltd 15%. (denny)