Santos to drill five Indonesian exploration wells in 2004

Australian oil and gas company Santos Limited has planned to drill five oil and gas exploration wells in 2004, according to the company’s presentation released on Wednesday.

The five wells are Agung, Raksasa, Pohon, Papalang and SMK9.

The Agung prospect is located in the newly-awarded North Bali I production sharing contract (PSC) block, while the Raksasa, Pohon and Pepalang wells are situated in the Popodi and Papalang PSCs. Santos has a 45 stake in each of Popodi and Papalang, which are located the deepwater part of the Kutai basin offshore East Kalimantan.

The firm said the SMK9 well is located in East Java, but it does not mention the specific location. The firm operates two concessions in East Java, that is the Sampang PSC (45 percent) and Madura offshore PSC (75 percent).

Santos earlier said the Pohon-1 wildcat well is scheduled to be spudded in the first quarter of 2004. The prospect has an unrisked potential of 150 million barrels of oil equivalent. (robert)