Santos announces gas discovery at Crown in the Browse basin

11/20/2012

Santos announces gas discovery at Crown in the Browse basin

Santos  announced a significant gas discovery at the Crown 1 exploration well in WA 274 P, located in the Browse basin offshore Western Australia.

Santos head of exploration Bill Ovenden described Crown-1 as an important gas discovery for the company.“The Crown discovery is well positioned, in close proximity to existing and proposed LNG projects in the Browse basin and other material exploration prospects,” Mr Ovenden said. Santos holds 30% of WA-274-P and is operator. Joint venture partners are Chevron 50% and Inpex 20%.

In addition, Santos has executed agreements to take a 30% interest in the adjoining exploration permit, WA 408 P, operated by Total 50%, subject to customary conditions. Murphy Oil has a 20% interest in the permit. The joint venture has committed to an initial drilling programme in the permit, including Dufresne 1 and Bassett West 1. These wells are expected to immediately follow the Crown 1 program.

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