Project Profile
Value: Undisclosed
Location: Offshore Gippsland Basin, 14km from the coast and south of the Victorian town of Orbost, Australia
Reserves: 368 bscf
Water Depth: 80 metres
The Vic/P47 permit is located in the offshore Gippsland Basin, 14 km from the coast and south of the Victorian town of Orbost, with water depths ranging up to 80 metres. The participants of the Vic/P47 Joint Venture are as follows: Bass Strait Oil Company (Operator) 40%; Moby Oil and Gas 35%; Strategic Energy Resources 25%. In June 2008, the Judith gas resource was certified by international consultants Gaffney Cline & Associates (GCA) who provided an independent resource certification of the Judith gas discovery and associated prospects in Vic/P47 based on available data at the time. Since that report was obtained, Bass Strait Oil Company, as operator of the Vic/P47 Joint Venture, carried out detailed seismic inversion studies over the field.
In accordance with the work programme variation for the Vic/P47 permit granted on 12th February 2013, the joint venture commenced re-assessment of the gas resource for the Judith gas discovery. As part of the that work programme, GCA was commissioned to prepare a report updating its previous 2008 assessment of Contingent Resources for the Judith Discovery to incorporate the new seismic inversion data. GCA’s estimates of gas initially in place (GIIP) are estimated at a high chance around 368 bscf. GCA believes that the seismic inversion processing has enabled it to decrease the uncertainty in the Contingent Resource estimates by utilising Pre-Stack AVO inversion attributes to define possible connected resource volumes for the Judith reservoir.
OBL is currently undertaking the following work:
Seismic reprocessing
Geological and Geophysical Studies;
QI/AVO study;
Faulty seal analysis.
Operators:
Oil Basins Limited: 100%
Contractors:
Gaffney Cline & Associates (GCA): Provider of an independent resource certification