Karoon Gas Australia has been awarded a three-year commitment to explore the Great Australian Bight (GAB), in which the company will focus on acquiring seismic surveys, offshore South Australia.
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Map of GAB, from Karoon. |
Karoon was awarded exploration permit EPP46, covering 17,793sq km, in what the company describes as Australia’s most active and prospective frontier oil exploration province, the Ceduna sub‐basin.
The company’s initial three‐year firm commitment consists of acquiring an extensive 2D seismic survey over the permit area, a targeted 3D seismic survey and geotechnical studies that will cost Karoon nearly US$20 million (A$26 million) in total, or $1100/sq km (A$1455/sq km). The initial plan does not include a well.
“The geology, potential target size and surrounding significant near term exploration activity make it a very exciting high impact opportunity,” Karoon said.
The GAB holds one of the world’s last underexplored Cretaceous basins, which contains the Ceduna Sub‐Basin. The Ceduna Sub‐Basin hosts a massive Cretaceous delta system which Karoon believes has the potential to be a globally significant hydrocarbon province with world class potential, the company said.
Within the next two years, supermajors BP, Statoil, and Chevron have committed about $761 million (A$1 billion) to drill nine exploration wells in the surrounding permits.
UK giant BP has faced several setbacks with its Great Australian Bight drilling program. Since last year, the company has seen a back-and-forth exchange with Australia’s National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA).
Just recently on 28 September, NOPSEMA sent a request Earlier today (28 September), NOSEMA sent a request to BP Developments Australia asking for more information relating to the company’s environment plan for drilling of the Stromlo-1 and Whinham-1 exploration wells.
According to NOPSEMA, the offshore regulator expects to have the requested information by 28 October, at which time it will recommence the assessment. BP can request an extension of this timeframe if required.
Read more:
NOPSEMA asks for further Bight details
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