Santos adds to Bangladesh interest

Santos has agreed to acquire Cairn Energy’s interest in block 16 (Sangu) and block 16 (exploration) in the Bay of Bengal offshore Bangladesh.

Offshore staff

ADELAIDE, South Australia – Santos has agreed to acquire Cairn Energy’s interest in block 16 (Sangu) and block 16 (exploration) in the Bay of Bengal offshore Bangladesh.

This adds to the 37.5% interest Santos Ltd. already holds in the acreage. Following completion, participants in block 16 (Sangu) will be Santos (75%, operator) and Halliburton (25%). Santos will have a 100% interest in block 16 (Exploration).

“In 2010, we acquired 3D seismic surveys in and around the Sangu field and on the Magnama exploration prospect, and have identified a number of exciting drilling opportunities that can be tied back to the existing Sangu facilities,” says Martyn Eames, VP Asia/Pacific.

11/04/2010

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