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Summary

Another Sorell Basin block for Santos

Santos Limited has been awarded its fourth offshore exploration permit in the Sorell Basin, offshore Tasmania, by the Commonwealth and Tasmanian Governments.

Exploration block T/36P is approximately 5 kilometres off Tasmanias south western coast and covers approximately 4,500 square kilometres.

Santos has been awarded the block for an initial period of three years and has agreed to a work program which may result in expenditure of up to $2 million being invested in exploring for oil and gas.

“This builds on Santos strong operating position in the waters of the Otway and Sorell Basins, where we now hold the exploration rights to seven blocks,” said Santos Managing Director, Mr John Ellice-Flint.

The new block is on trend with four other deep water blocks in the deepwater Otway and Sorell Basins. However, three quarters of this block has a more conventional water depth of less than 200 metres.

Santos holds a 50 per cent interest in T/36P and is the operator. The remaining 50 per cent interest is held by Unocal.