Santos Finds Gas at Sangu-11 in Bangladesh

Santos announced Wednesday that Sangu-11 has penetrated a new gas reservoir in the Sangu Area with approximately 66 feet (20 meters) of good quality gas pay.

The well will be completed and tied into the Sangu facilities and will provide incremental gas to Chittagong in the coming months once marketing arrangements have been finalized. Work is continuing to assess volumes and flow potential of the reservoir.

After completion of Sangu-11, the Seadrill jackup drilling rig Offshore Resolute (ILC 350') will be demobilized.

Sangu-11 was the third well of a 3-well drilling campaign in Block 16 PSC that commenced in September 2011. The first well, South Sangu-4, found gas in one target but was unable to add further reserves due to encountering anomalously high formation pressure, and had to be abandoned prior to reaching its primary objective. The second well, NE Sangu-1 drilled in December 2011, failed to encounter commercial hydrocarbons and was also abandoned.

John Chambers, President of Santos in Bangladesh, commented “We are pleased to have found new volumes of gas that can supply the Chittagong market. Further gas discoveries will still be needed to supply the market in the medium to long term. The mixed success of this program is a reminder of the risks and challenges associated with gas exploration and appraisal, and underlines the importance of providing the right investment framework to encourage further exploration in the Bay of Bengal.”

Santos in Bangladesh

Santos first came to Bangladesh in 2007 when it acquired interests in Block 16 (Sangu) and Block 16 (Exploration) from Cairn Energy, then the operator.

In December 2010, Santos acquired Cairn’s remaining interests in Bangladesh.

Today, the participants in Block 16 (Sangu) are Santos (75 percent, operator) and Halliburton (25 percent). Santos has a 100 percent interest in Block 16 (Exploration).


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