Santos has agreed to acquire Cairn Energy’s interest in block 16 (Sangu) and block 16 (exploration) in the Bay of Bengal offshore Bangladesh.
Offshore staff
ADELAIDE, South Australia – Santos has agreed to acquire Cairn Energy’s interest in block 16 (Sangu) and block 16 (exploration) in the Bay of Bengal offshore Bangladesh.
This adds to the 37.5% interest Santos Ltd. already holds in the acreage. Following completion, participants in block 16 (Sangu) will be Santos (75%, operator) and Halliburton (25%). Santos will have a 100% interest in block 16 (Exploration).
“In 2010, we acquired 3D seismic surveys in and around the Sangu field and on the Magnama exploration prospect, and have identified a number of exciting drilling opportunities that can be tied back to the existing Sangu facilities,” says Martyn Eames, VP Asia/Pacific.
