Fossil Energy – Exploration Drilling
Offshore oil and gas explorer 3D Oil has received letter of award from ConocoPhillips Australia for the Transocean Equinox drilling rig to support an exploration drilling programme in the Otway Basin in Australia.
The drilling programme is due to be carried out in exploration permits VIC/P79 and T/49P in Commonwealth waters offshore Victoria and King Island, Tasmania.
ConocoPhillips Australia operates the two exploration permits while 3D Oil owns a 20% stake in each of the permits.
3D Oil expects the Transocean Equinox harsh-environment, semi-submersible rig to arrive in the first quarter of 2025.
In a press statement, 3D Oil said: “The drilling of two exploration wells with limited financial exposure to 3D Oil could be a transformational event for the company. This is an important step in [the company’s] ambition to be a significant East Coast gas producer.”
Covering an area of 1006km² in shallow waters of the southern offshore Gippsland Basin, the VIC/P74 permit is located adjacent to the Kingfish Field, as well as the Bream and Luderick gas fields.
The 4,960km² T/49P lies adjacent to the significant Thylacine and Geographe gas discoveries.
