ConocoPhillips Australia Pty Ltd. will undertake exploration activities in offshore permits VIC/P79 and T/49P in Commonwealth waters of Otway basin, 19 km offshore Victoria and 28 km offshore King Island, Tasmania.
The proposed Otway exploration drilling program involves seabed surveys at up to a maximum of nine locations, and drilling up to a maximum of six exploration wells in water depths of 53-500 m.
Activity is scheduled to commence no earlier than Apr. 1, 2024, and will be completed no later than Dec. 31, 2028, with the exact timing dependent on the receipt of environmental approvals and the availability of a mobile offshore drilling unit (MODU).
In July, ConocoPhillips secured the Transocean Equinox rig to drill two firm wells in the permits (OGJ Online, July 12, 2023).
ConocoPhillips Australia is operator of the permits with 80% interest. 3D Oil holds the remaining 20%.