ConocoPhillips Australia Receives Approval for Otway Exploration Drilling Program

ConocoPhillips Australia (COPA), a subsidiary of the U.S.-headquartered energy giant ConocoPhillips, has been given the green light for its environment plan (EP) to commence its upcoming Otway exploration drilling program (OEDP) in 2025. This exploration initiative, aimed at discovering new natural gas reserves in the offshore Otway Basin, is set to address Australia’s energy needs.

The exploration program, covering offshore permits VIC/P79 and T/49P in Commonwealth waters, will be carried out using a semi-submersible rig owned by Transocean, a Switzerland-based offshore drilling contractor.

Key Details of the Otway Exploration Drilling Program

The program, which includes up to six exploration wells, will be conducted in water depths ranging from 53 to 200 meters across the VIC/P79 and T/49P exploration permits. The exact timeline for the Phase 1 drilling program is contingent on various factors, such as the rig’s arrival, operational schedules of other consortium members, and regulatory approvals.

ConocoPhillips, as the operator with an 80% stake in the permits, has secured AHTS vessels from Sea1 Offshore and booked the Transocean Equinox semi-submersible drilling rig for the drilling campaign. Its partner, 3D Energi, holds a 20% interest in both permits.

3D Energi’s Perspective

Noel Newell, Executive Chairman of 3D Energi, expressed pride in being part of the assessment and highlighted the significance of the approval for the JV. The approval marks a crucial milestone for the upcoming drilling campaign, which is expected to unlock significant value for shareholders.

Environmental Focus and Future Prospects

The Otway exploration drilling program is seen as a vital opportunity to secure additional gas reserves for the Australian east coast market. With a focus on minimizing environmental impacts and ensuring operational safety, the program aims to meet the future energy demands of Victoria and the broader east coast market.

3D Energi emphasized the commercial viability of the project, citing its proximity to existing infrastructure and potential to address the east coast gas market’s requirements effectively.

Regulatory Compliance and Next Steps

Following NOPSEMA’s acceptance of the EP, the focus now shifts to obtaining well operations and safety approvals. The joint venture will submit the well operations management plan (WOMP) and safety case revision to ensure adherence to operational and safety protocols during the drilling program.

Conclusion

The approval of the environment plan signifies a significant step towards the realization of the Otway exploration drilling program. With a commitment to sustainable practices and a focus on meeting energy needs, the project holds promise for future growth and reliability in the region’s gas market.

As ConocoPhillips continues its efforts in oil and gas projects globally, the Otway exploration drilling program stands out as a significant endeavor to meet Australia’s energy requirements and secure a reliable gas supply for the east coast market.