Offshore staff

ADELAIDE, Australia – Santos reports an oil discovery at Finucane South, Carnarvon basin, offshore Western Australia. Well logs and wireline tests confirm a net oil column of 18 m (59 mi) in the Angel formation.

Finucane South is about 7 km (4 mi) from the Fletcher oil field and 14 km (8.7 mi) from production facilities at Mutineer Exeter. Finucane South and Fletcher both are in WA-191-P.

Santos says it is considering several options, including subsea tieback to Santos’ FPSO at Mutineer Exeter which would result in first oil from Finucane and Fletcher by end 2013.

Santos holds a 33.4% interest in WA-191-P and is operator. Other participants are Kufpec Australia (33.4%), JX Nippon Oil & Gas Exploration Corp. (25%), and Tap Oil (8.2%).

05/25/2011