text: Egypt and surrounding countries 
  are a focus area for Santos. The 
  Company has farmed in to three 
  exploration blocks in Egypt with 
  US petroleum group, Devon 
  Energy, committing approximately 
  $70 million to an eight-well 
  exploration joint venture over 
  the next three years in the Gulf 
  of Suez. This is Santos’ first move 
  into the North Africa–Middle East 
  region, which is considered the 
  world’s premier hydrocarbon 
  province. 
  
  • the farm-out of a 16.67% 
  interest in the WA-264-P 
  permit offshore Western 
  Australia to Beach Petroleum 
  
  • the farm-out of a 70% interest 
  in the deep water exploration 
  block, Nth Bali 1 PSC, offshore 
  East Java Basin to Total 
  and Mitsui 
  
  An example of this is the strong 
  position Santos has created in 
  the Kutei Basin, with interests in 
  three neighbouring production 
  sharing contracts: Popodi, 
  Donggala and Papalang.  2004 also marked the year that 
  Santos drilled its first operated 
  deep water wells – a significant 
  achievement for a company that 
  had its beginnings in a desert 
  environment. 
  
  Santos continues to seek other 
  exploration opportunities in this 
  area, concentrating on the Gulf 
  of Suez and the onshore Desert 
  Basins. 
  **KUTEI BASIN**