APPEA: Deepwater gas E&P off Australia speeds up
Australia is poised for a wave of gas-driven deepwater exploration activity, according to Terry Walker, Woodside Petroleum's manager of new business.
ADELAIDE, Apr. 19 -- Australia is poised for a wave of gas-driven deepwater exploration activity, according to Terry Walker, Woodside Petroleum's manager of new business.
Walker told the Australian Petroleum Production & Exploration Association conference in Adelaide that over the next 3 years, more than 14,300 sq km of 3D seismic, 17,500 km of 2D seismic, and 36 wells have been committed by companies working in deepwater areas.
Walker said this was a conservative estimate, as most would add to their programs with secondary commitments of 1,200 sq km of 3D and 5,200 km of 2D plus 24 wells.
This total equates to as much deepwater activity in Australia over the next 3 years as there was in the last 30 years, Walker said.
Walker said that, of 1,040 wells drilled off Australia, only 61 have been in water deeper than 500 m and only 1 in more than 1,500 m of water.
Australia's deepwater discoveries all lie in the North West Shelf region and consist of more than 94% gas and less than 6% liquids.