Santos, Talisman to start E. Java prospect exploration drilling Q2 2002
Wednesday, February 13 2002 - 03:50 AM WIB
Australian oil, gas company Santos Limited will start drilling Maleo-1 exploration well in Madura Offshore production sharing contract in East Java in the second quarter of 2002, according to the company?s executive.
In a live webcast presentation Wednesday, Santos? managing director and CEO John Ellice-Flint said that drilling risk in Maleo-1 well was considered ?moderate? and hydrocarbon potential gross up could reach 350 million barrels of oil equivalent.
Santos acquired 75 percent working interest in Madura Offshore PSC from Canadian oil, gas firm Talisman Energy Limited in August 2001, following Santos? success to discover significant oil, gas reserve in Sampang PSC, which is located nearby. Talisman retains 25 percent working interest in Madura PSC. (alex)