Friday, May 27, 2011

Santos Plans to spend over US$ 100 million for Sangu field in Bangladesh

Santos International is one of Australia’s leading gas producers, supplying Australian and Asian customers. The company is the largest producer of natural gas for the domestic Australian market, and has significant gas and oil operations across Australia and in Indonesia, Papua New Guinea, Vietnam, Bangladesh, India and the Kyrgyz Republic. The company has a strong base in Australia and Indonesia and pursuing focused growth in Asia, of which our activities in Bangladesh are a key part.

Santos in Bangladesh:

Santos acquired 3D seismic in 2010 over the Sangu and Magnama structures. This seismic has revealed some prospects of interest. Santos is planning to spend over $100 million on a three-well program in Block 16 beginning in the fourth quarter of 2011.  All wells are targeting new pools of gas not intersected by the existing Sangu field development. One of the wells, Sangu-11, will be drilled from the Sangu platform and, if successful, will be able to provide some immediate relief to the Chittagong gas situation. The other two wells are targeting prospects approximately five kilometers from the Sangu platform. A further exploration well may also be drilled on the Magnama prospect should time permit in the upcoming drilling season.

In November 2010, Santos acquired all of the interests of Cairn in Sangu gas field and Block 16 exploration acreage. As a result of this transaction, Santos holds 75% interest (operator) in Block 16 (Sangu) and will have a 100% interest in Block 16 (Exploration). The deal is depicted below:
Santos exploration portfolio for 2011:

1 comment:

  1. 2 oil/gas wells planned to be dug this year and one the next. I hope Block 16 offers Bangladesh more Jobs. like the ship-breaking that provided 500 places. this is a positive climb towards a bright future. lets not forget the future electricity imports. i sense a change.

    call Bangladesh



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