3D Oil’s upcoming 2024 – 2025 East Coast drilling exploration campaign is preparing a drilling environment plan (EP) with the potential to drill up to six exploration wells within the VIC/P79 and T/49P permits.
The EP will cover both permits, providing flexibility to drill multiple locations within the permits during the EP window. ConocoPhillips Australia has initiated the consultation process with stakeholders and continues to progress towards the determination of final drill targets in parallel.
Two exploration wells are to be drilled as a part of the exploration campaign, which is planned over a window spanning late 2024 to 2025. 3D Oil has a carry of one exploration well on each of the T/49P and VIC/P79 permits.
Program commencement is dependent on regulatory approvals and rig availability and may commence as early as October 2024.
Final drill targets will be selected upon finalisation 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.
Executive Chairman of 3D Oil, Noel Newell said that the company is pleased to be working with ConocoPhillips Australia on the exciting exploration program announced. If successful, the program would supply natural gas into the east coast gas network.
“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 per cent for almost two decades,” said Newell.
“Recent planning activities have resulted in the exploration program being potentially more extensive than previously announced and provides a transformational opportunity for the company at a time of critical energy instability during the energy transition.”
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