One-Page Deal Sheet
Santos Picks Up 20% Stake in PNG License from Exxon, Oil Search
Santos Limited ExxonMobil, Oil Search Limited
Announced Date
November 17,2016
Transaction Type
Farm-In/Farm Out
Asset/Basin:
{"Papua New Guinea Fold and Thrust Belt"}
TargetZones:
{"Toro Formation"}
Location
Region
Asia - Pacific
Country
Papua New Guinea
Transaction Details: Subscribe to see
Santos has signed an agreement to farm-in for a 20% interest in Petroleum Prospecting Licence (PPL) 402 in Papua New Guinea. The interest will be acquired from both Oil Search and ExxonMobil.
PPL 402 is located approximately 40 kilometres northwest of the Hides gas field and production facilities, and within the highly prospective thrust and fold belt trend. The licence covers an area of 510 km2.
The farm-in results in Santos’ participation in the recently spudded Muruk 1 exploration well. The
Muruk 1 well is targeting the Toro Formation, which is gas bearing in the nearby Hides and Juha…
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