Santos takes interests in permits offshore Papua New Guinea

Santos has executed binding agreements to acquire from Talisman interests in two exploration permits offshore Papua New Guinea.

Offshore staff

ADELAIDE, Australia – Santos has executed binding agreements to acquire from Talisman interests in two exploration permits offshore Papua New Guinea.

Santos will acquire 30% interests in permits PPL 261 and PPL 426. Terms of the agreements are confidential, and Talisman will remain the operator.

In addition, Santos and Talisman are in exclusive discussions for Santos to acquire a 50% interest in PPL 287.

Three exploration wells are planned in the permits, with the first well, Kupio-1 in PPL 261, expected to spud in early September.

9/9/13

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