Santos offloads 19% stake in Java mud well

摘要

Sydney-Australian exploration and production company Santos has agreed to transfer its 18% interest in the Brantas production sharing contract in East Java to Minarak Labuan, a company associated with Lapindo Brantas, the operator and majority owner of the PSC. The Brantas PSC covers the Banjar-Panji 1 onshore exploration well in Sidoarjo, which has been spewing massive volumes of mud since May 2006. The mudflow has now covered an area of 1,800 hectares, and displaced tens of thousands of local residents.