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Santos expands Indonesian holdings

Dec. 22, 1997

A group led by Santos Ltd., Adelaide, has been awarded a production-sharing contract (PSC) off Surabaya, Indonesia, by state-owned oil company Pertamina. Santos is Sampang PSC operator and holds a 45% interest in the 661,219 acre concession, which lies in as much as 165 ft of water. Initial exploration work calls for the acquisition of 1,000 line-km of 2D seismic, which is expected to get under way next year. Company executives say the Sampang PSC complements other Santos interests in the

A group led by Santos Ltd., Adelaide, has been awarded a production-sharing contract (PSC) off Surabaya, Indonesia, by state-owned oil company Pertamina.

Santos is Sampang PSC operator and holds a 45% interest in the 661,219 acre concession, which lies in as much as 165 ft of water.

Initial exploration work calls for the acquisition of 1,000 line-km of 2D seismic, which is expected to get under way next year.

Company executives say the Sampang PSC complements other Santos interests in the region, where gas demand is growing. Those interests include the Bentu and Korinci-Baru PSCs.

Other Sampang PSC license holders are Houston's Coastal Corp. unit Coastal Indonesia Sampang Ltd. 40% and Australia's Cue Sampang Pty. Ltd. 15%.