Exploration block T/36P is approximately 5 kilometers off Tasmania's south western coast and covers approximately 4,500 square kilometers.
Santos has been awarded the block for an initial period of three years and has agreed to a work program which may result in expenditure of up to $2 million being invested in exploring for oil and gas.
"This builds on Santos strong operating position in the waters of the Otway and Sorell Basins, where we now hold the exploration rights to seven blocks, said Santos' Managing Director, Mr. John Ellice-Flint.
"The new block is on trend with four other deep water blocks in the deepwater Otway and Sorell Basins. However, three quarters of this block has a more conventional water depth of less than 200 meters."
Santos holds a 50 percent interest in T/36P and is the operator. The remaining 50 percent interest is held by Unocal.
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