Mangga-1 will test the Mundu Formation, from which the Oyong oil and gas shows were discovered, within a four way dip closure, 110m updip of gas shows in the Anggur-3 well.
Santos estimates Mangga to have a potential 110 billion cubic feet of recoverable gas (P50 case) up to a high side case of approximately 320 billion cubic feet.
The company was also recently awarded the new North Bali 1 PSC, located east of Java and north of the island of Bali, which covers 3,449sq.km in water depths ranging from 100 to 970m.
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, John Ellice-Flint.
Participants in the Sampang PSC are Cue Sampang 15%, Santos (Sampang) 45% (operator) and Coastal Indonesia Sampang (El Paso) 40%.
