Inpex Corp. is transferring 25% interest in a deepwater exploration block in East Malaysia to Santos Ltd.
Block S covers 574 sq km in the Sabah basin in 200-1,500 m of water.
Inpex Offshore Northwest Sabah Ltd. is operator and retains 50% interest. Petronas Carigali has 25%. The companies acquired the block in January 2012.
Inpex said it has conducted a 3D seismic survey in Block S and plans to drill this year.
