The East Java Basin is considered highly prospective for oil and several substantial oil and gas fields have been discovered within the vicinity of the North Bali 1 PSC area. The commitment work program for the PSC includes the acquisition of 2D seismic data and the drilling of one exploration well within the next twelve months.
"The award of the North Bali 1 block continues our strategy of building a portfolio of high-potential exploration opportunities and further consolidates our position in the East Java Basin", said Santos' Managing Director, Mr. John Ellice-Flint.
Santos has a 100 percent interest in the permit and is the operator.
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