Santos strikes oil in Malaysian drilling

May 3, 2015

Dateline 2015-03-26, The Sidney Morning Herald:

Santos has reported a “significant” oil discovery in its deep-water exploration campaign in Malaysia, providing a welcome piece of good news for investors.

The Bestari-1 well, drilled with Malaysian national operator Petronas, comes just two months after Santos completed a deal to buy a 20 per cent stake in the Block R Production Sharing Contract containing the exploration prospect.

Santos’s vice-president for Asia, John Anderson, said Santos was “very encouraged” by the find, which he said had similarities to “some of the other world-class fields in the area”.

Block R, located offshore East Malaysia, lies in an area where large fields have been discovered, including Murphy Oil’s Kikeh and Shell’s Gumusut-Kakap oilfields.

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Japan’s Inpex to sell 25 pct of Malaysia oil block stake to Santos

November 21, 2014

Dateline 2014-09-01, Reuters:

Japan’s Inpex Corp said on Monday it has agreed to sell a 25 percent stake in the deep water Block S in offshore Malaysia to Australian oil and gas producer Santos Ltd.

Japan’s biggest oil and gas producer, which will reduce its stake in the block to 50 percent after the transfer, serves as the operator in the block located in eastern Malaysia. An Inpex spokeswoman declined to comment on the price.

Inpex has conducted a three-dimensional seismic survey and geological studies in Block S, and depending on the result, it plans to drill wildcat wells this year for new discovery of oil and natural gas deposits, the company said in a statement.

 

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