Statoil farms into Great Australian Bight

Statoil has farmed into BP PLC’s four permits in the South Australian sector of the Great Australian Bight to earn a 30% interest overall.

Commercial terms for the deal were not disclosed, but BP has already committed to spending $1.4 billion (Aus.) on its exploration program in EPs 37, 38, 39 and 40 in the Ceduna Sub Basin offshore South Australia.

The permits cover an 24,000 sq km area. Statoil has already shot 3D seismic over a 12,000 sq km area. Processing the data is being finalized to identify drillable prospects. Work also continues on the region’s environmental studies.

The company’s forward work program comprises as many as four wells beginning in the Southern Hemisphere summer of 2015-16. The program could take 18-30 months.

BP will remain operator. The overall objective is to explore a giant buried delta believed to be similar in size to the Niger Delta offshore West Africa.

Statoil’s move adds to its earlier move in Australia to farm into acreage held by PetroFrontier Corp. in the southern Georgina basin onshore Northern Territory.

Related Articles

Tethys reports second successful gas well in Kazakhstan

03/20/2014 Tethys Petroleum Ltd. reported the success of the second shallow gas exploration well of its 2014 program on the Akkulka block in the Caspian regio...

BOEM: Firms bid $850 million in high bids in central gulf lease sale

03/19/2014 The US Bureau of Ocean Energy Management reported that its central Gulf of Mexico Lease Sale 231 received 380 bids from 50 companies on 326 blocks,...

CNOOC makes gas discovery in Qiongdongnan basin


CNOOC Ltd. has made a natural gas discovery in the east Lingshui Sag of the deepwater area in the South China Sea’s Qiongdongnan basin.

Cairn, FAR to drill exploration wells offshore Senegal


FAR Ltd., Perth, will participate in the drilling of two deepwater exploration wells offshore Senegal next month.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected