Zodan, Santos delay E. Kalimantan deepwater first drilling to Q1 2004

Australian oil company Santos Limited reported Wednesday that Pohon-1 wildcat well in Popodi deepwater PSC offshore East Kalimantan?s Kutei Basin, which is originally scheduled to be spudded in the second half of this year, will be delayed until the first quarter of next year.

Santos acquired 20 percent interest in Popodi PSC and adjacent Papalang PSC from Zodan NV and Zudavi NV this year. Santos also said earlier that the partnership would drill Sigma wildcat well in Papalang this year. Apparently, the plan was delayed or cancelled for undisclosed reason.

Santos earlier said the Pohon prospect has unrisked potential of 150 million BOE.

Santos also planned to spud Jeruk exploration well in Sampang PSC offshore East Java in November this year. The company said the prospect is oil prone with unrisked resource range of 6-207 million BOE.

Santos and partners had been conducting three unsuccessful exploration drillings in East Java in 2003. Earlier this year, Santos and partner BP had made two non-commercial discoveries in Bawean PSC and had just plugged and abandoned Mangga-1 well in Sampang PSC after making non-commercial discovery. (alex)