ConocoPhillips Australia issued a letter of award securing the Transocean Equinox rig to drill two firm wells in exploration Otway basin permits VIC/P79 and T/49P in Commonwealth waters offshore Victoria and King Island, Tasmania, partner 3D Oil Ltd. said in a release July 12.
ConocoPhillips prepared an environmental plan that proposes seabed surveys and drilling of up to six exploration wells in the permits (OGJ Online, Feb. 7, 2023). Drilling is dependent on regulatory approvals from the National Offshore Petroleum Safety and Environmental Management Authority, which will receive the plan this year. The latest finish date for the proposed exploration drilling campaign is Dec. 31, 2028.
The award has an option for an additional 120 drilling days.
ConocoPhillips Australia is operator of the permits with 80% interest. 3D Oil holds the remaining 20%.