Tap Oil Ltd. has been awarded 100% interest in Blocks W14-7 and W14-16 in the prospective Barrow and Dampier sub-basins on the North West Shelf as part of Australia’s 2014 Offshore Petroleum Exploration Acreage Release.
Block W14-07, now petroleum exploration permit WA-515-P, is on the Rankin platform in 100-400 m of water, covering an area of 485 sq km. The permit lies between the Wheatstone gas field to the west and the Goodwyn-Perseus gas fields to the east.
Block W14-16, now PEP WA-516-P, is east of the Alpha Arch on the western flank of the Barrow sub-basin and adjacent to other Tap acreage. The permit is in 50-200 m of water, covers an area of 160 sq km, and lies between the Griffin, Chinook-Scindian fields, and Woollybutt oil field.
Tap has agreed to a 3-year work program consisting of reprocessing open file 3D seismic or licensing existing multiclient reprocessed 3D data, quantitative interpretation studies, and G&G studies.
Each program runs from Mar. 6, 2015, through Mar. 5, 2018. The majority of funds are anticipated being spent from 2016 onwards. The optional secondary work program comprises 3D seismic acquisition in year four and a well in year six.
