Santos to drill two Indonesian wells in 2003

Australian oil and gas company Santos Limited said on Wednesday it had planned to drill two oil and gas wells in 2003, in East Java and Central Sumatra.

The company did not specify when the drilling program would start.

Santos has a 61.11 percent working interest in the Bentu production sharing contract (PSC) and Korinci-Baru PSC, which are located in Central Sumatra Basin.

In East Java, the company also holds a 45 percent interest in the Sampang PSC and a 75 percent working interest in Madura Offshore PSC in Madura Strait.

The company has recently secured gas sales from its Oyong field in Sampang PSC to Indonesia Power?s Grati power plant in East Java and will participate in gas sales to Malaysia from its Bentu PSC.

?Our progress in Indonesia is a first step in building a Southeast Asia gas franchise from our Australian base,? said John Ellice-Flint, the company managing director. (robert)