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Summary

Indonesia Permit Award

INDONESIA PERMIT AWARD

The Santos Group today announced that it has been awarded a 45% interest and Operator status in the Sampang Production Sharing Contract (PSC) in East Java, Indonesia.

The Sampang PSC is located immediately offshore from Surabaya, Indonesia’s second-largest city, a major seaport and industrial centre

The PSC contains a number of gas prospects.

The interest complements Santos existing interests in the Bentu and Korinci-Baru PSCs.

The initial priority involves the acquisition of 1000 km of 2D seismic.

Commenting, Santos Managing Director, Mr Ross Adler, said:

This interest further improves Santos position in Indonesia and will position the company to take advantage of the growing gas demand in this region. The Sampang PSC represents an opportunity consistent with our strategy to grow the Companys business in Indonesia by targeting gas exploration close to expanding markets.

The Sampang PSC license holders are as follows:

  • Santos (Sampang) Pty Ltd 45% (Operator)
  • Coastal Indonesia Sampang Ltd 40%
  • Cue Sampang Pty Ltd 15%

Coastal Indonesia Sampang Ltd is an affiliate of the exploration and production subsidiary of The Coastal Corporation, a Houston, Texas based energy holding company.