Project Profile
Value: Undisclosed
Location: North West Shelf of Western Australia
Water depth: 70-100 m
Start-up Year: -
The permits are located in the Carnarvon Basin of the North West Shelf, Western Australia, approximately, 43 km north of the Montebello Islands, 76 km north of Barrow Island and 123 km north of the Western Australian mainland coast. Water depths across the survey area range from approximately 70 to 100 m lowest astronomical tide
Santos is operator with 75% interest in WA-323-P and WA-330-P. The permits are located in the Dampier Sub-Basin, part of the Carnarvon Basin. Octanex is partner with 25% interest.
The initial 6-year term of both permits expired on 21 December 2010 and renewals for their first 5-year terms have been granted by the Designated Authority - the renewal terms commenced on 6 April 2011. The renewed permits are unchanged in area and each comprises four graticular blocks (approximately 646 km² or 159,630 acres in total) located in the Dampier Sub-basin part of the Carnarvon Basin, offshore Western Australia.
In June 2011, Octanex announced the completion of a farmin agreement with Santos with respect to each of the WA-323-P and WA-330-P permits. As a consequence, the Octanex Group assigned a 75% interest and the operatorship in both permits and in the Dampier Joint Venture to Santos and Santos agreed to:
Under the arrangements with Octanex, Santos has three years in which to drill a well, but their interpretation of Winchester as a robust prospect means consideration is being given to bringing that timing forward, possibly to the end of 2012.
Operators:
Santos Offshore Pty Ltd: Operator with 75% interest
Octanex Group: 25% interest
Contractors:
Ensco: Drilling rig