Santos, partners to drill 2 Indonesian exploration wells H2 2003

Australian oil and gas firm Santos Limited said Wednesday that the company, together with partners, would drill two more wells in its Indonesian acreages for the remainder of the year.

Santos said Mangga exploration well in Sampang PSC offshore East Java would be spudded in August, while Sigma exploration well in Popodi PSC in Kutei Basin offshore East Kalimantan would be spudded in November.

Mangga is gas prone target with unrisked resource ranges from 5-50 MMBOE, while Sigma is oil, gas prone target with resource ranges from 50-475 MMBOE, said the company. Santos is the operator and 45 percent interest holder of Sampang PSC.

Santos said drilling in Sigma is one of key exploration wells the company undertakes this year.

Santos acquired 20 percent interest in two adjacent Popodi and Papalang blocks last quarter. The blocks are located in the deep-water part of the Kutei Basin. Santos and operators of the blocks has initial commitment to drill three exploration wells in the blocks. (alex)