ConocoPhillips Australia plans Otway exploration drilling program

Feb. 7, 2023
ConocoPhillips plans to undertake exploration activities in Australia offshore permits VIC/P79 and T/49P.

ConocoPhillips Australia plans to undertake exploration activities in Australia offshore permits VIC/P79 and T/49P. The proposed activities are a continuation of the operator’s exploration program in the offshore Otway basin off the coast of Victoria and King Island, Tasmania, which aims to identify commercially viable natural gas reserves.

The proposed exploration program will involve seabed surveys and drilling up to a maximum of six exploration wells and commences no earlier than January 2024, subject to an accepted Environment Plan (EP), rig availability, and a conducive investment and regulatory environment, the company said.

The company is preparing an EP to submit to the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) for public comment and assessment.

A two-well drilling campaign is planned in late 2024/2025 subject to rig availability with a further four optional wells depending on success.

“The targeted exploration area is ideally located in Bass Strait in proximity to existing production facilities and infrastructure that predominantly supplies the east coast gas market and where the historical gas exploration success rate has been close to 100% for almost two decades,” said Noel Newell, executive chairman of 3D Oil. The company holds 20% interest in the permits after a farmout agreement with ConocoPhillips in 2020 (OGJ Online, June 16, 2020).

Final drill targets will be selected upon finalization of a risked and ranked prospect inventory across both permits, following completion of the Sequoia 3D MMS processing and interpretation, as well as 3D seismic reprocessing and interpretation activities in VIC/P79, 3D Oil said in a release Feb. 3.

ConocoPhillips Australia is operator of the permits with 80% interest. 3D Oil holds the remaining 20%.