Santos plans Kutei Basin exploration campaign in 2007

Australian oil firm Santos Limited plans to drill three exploration wells in Kutei Basin offshore East Kalimantan next year, the company said in quarterly report released Thursday.

The company said it would drill Hiu Aman Selatan well of Donggala PSC and Kutei (A) and Kutei (B) wells which are located in Popodi and Papalang PSC blocks respectively. Santos is the operator of Donggala PSC with 50 percent interest and a non-operating partner in Papalang and Popodi PSCs with 20 percent interest in each block.

The company said Hiu Aman Selatan had indicative unrisked upside potential resources of between 50-100MMBOE, while Kutei (A) and Kutei (B) had unrisked potential resources of 100-250MMBOE and 50-100MMBOE, respectively.

In 2005, Santos discovered oil and gas in Donggala PSc at of Hiu Aman well.

The company also reported that it had spudded Semangka explorations well in madura Offshore PSC, East Java on October 12, 2006. Semangka has unrisked upside potential of 100-250MMBOE, said the company. (alex)