Santos has signed an agreement to farm-in a 20% stake in Petroleum Prospecting Licence 402 (PPL 402) in Papua New Guinea (PNG). Santos will acquire the equity from both Oil Search and ExxonMobil. PPL 402 is located around 40km northwest of the Hides gas field and production facilities, and within the highly prospective thrust and fold belt trend.?The licence covers 510sq km.
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