Basin review, Projects

Offshore petroleum acreage release permits granted

The combined exploration work will have a value of approximately $A137 million over three years, with further investment possible depending on initial findings.

The approvals saw Apache Northwest granted WA-453-P in the Barrow Sub-basin of the Northern Carnarvon Basin off Western Australia.

The company proposes 80 square km 3D seismic reprocessing and geotechnical studies to an estimated value of $A0.7 million. The secondary work program consists of an exploration well and geotechnical studies to an estimated value of $A25.4 million.

MEO Australia secured WA-454-P in the Joseph Bonaparte Gulf off Western Australia, and permit AC/P53 in the Vulcan Sub-basin of the Bonaparte Basin off Western Australia.

The WA-454-P proposal includes 300 km of new 2D seismic surveying, 750 km of 2D seismic data reprocessing, 400 square km of new 3D seismic surveying and geotechnical studies to an estimated value of $A4.55 million. The secondary program consists of an exploration well and geotechnical studies to an estimated value of $A20.5 million.

For AC/P53 the company proposes 150 km of new 2D seismic surveying, 500 sq km 3D seismic reprocessing and geotechnical studies to an estimated value of $A0.85 million. The secondary program consists of an exploration well and geotechnical studies to an estimated value of $A25.5 million.

Chevron Barcoo was granted permits WA-455-P and WA-456-P in the Barrow Sub-basin of the Northern Carnarvon Basin off Western Australia.

For WA-455-P, Chevron proposes 600 km of new 2D seismic surveying, one exploration well and geotechnical studies to an estimated value of $A6.5 million. The secondary program consists of an exploration well and geotechnical studies to an estimated value of $A4.5 million.

For permit WA-456-P the company proposes two exploration wells and geotechnical studies to an estimated value of $A8.5 million. The secondary program consists of an exploration well and geotechnical studies to an estimated value of $A4.5 million.

Flow Energy has been awarded WA-457-P and WA-458-P in the Dampier Sub-basin of the Northern Carnarvon Basin off Western Australia.

The company proposes 322 sq km of new 3D seismic surveying, 403 square km 3D seismic reprocessing, 200 km 2D seismic reprocessing and geotechnical studies to an estimated value of $A4.3 million. The secondary program consists of one exploration well and geotechnical studies to an estimated value of $A22.8 million

For permit WA-458-P the company proposed 242 sq km of new 3D seismic surveying, 335 sq km 3D seismic reprocessing, 50 km 2D seismic reprocessing and geotechnical studies to an estimated value of $A3.45 million. The secondary program consists of one exploration well and geotechnical studies to an estimated value of $A22.8 million.

Bight Petroleum has been awarded EPP41 and EPP43, which straddle the Duntroon and Ceduna Sub-basins of the Bight Basin off South Australia. EPP41 proposes 768 sq km of new 3D seismic surveying, bathymetry survey, geochemical sampling survey, an exploration well and geotechnical studies to an estimated value of $A63.625 million. The secondary program consists of 1,969 sq km of new 3D seismic surveying, two exploration wells and geotechnical studies to an estimated value of $A156.2 million.

EPP42 proposes 235 km of new 2D swath seismic surveying, bathymetry surveying, geochemical sampling surveying and geotechnical studies at an estimated value of $A3.975 million. The secondary program consists of an exploration well, 405 km of new 2D swath seismic surveying and geotechnical studies to an estimated value of $A49.9 million.

PTTEP Australasia has been awarded AC/P54 in the Vulcan Sub-basin of the Bonaparte Basin off Western Australia.

The company proposes 300 sq km of new 3D seismic surveying, an exploration well and geotechnical studies to an estimated value of $A40.3 million. The secondary program consists of an exploration well, 300 square km 3D seismic reprocessing and geotechnical studies to an estimated value of $A35.7 million.

In line with the deed of agreement between PTTEP and the Australian Government additional conditions have been placed on the PTTEP permit.

These include:

  • Within three months and prior to commencement of any offshore petroleum operational activities, PTTEP must lodge governance processes that will be applied throughout the life of the title, including how those processes will be applied to any contractor carrying out offshore petroleum activities.
  • Prior to and for a period of up to two months following the completion of the drilling operation, the Regulator may request that a peer review of the drilling operation, including the project management team established for that particular drilling operation, be undertaken
  • PTTEP will be required to submit spill mitigation prior to drilling each well, that highlights how the company plans to reduce risks throughout the drilling and active life of the well.
  • If cement around well casing is to act as a barrier, PTTEP will be required to carry out a cement evaluation log at the completion of the cementing operation to demonstrate the effectiveness of the cement barrier before continuing drilling operations

The Minister for Resources and Energy Martin Ferguson said broadening Australia’s geological frontiers stood to make Australia less reliant on fuel imports which, in turn, would enhance energy security.

“Australia has a $A16 billion trade deficit in crude oil, refined products and LPG. That figure may double within four years,”? Minister Ferguson said.

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