Project Profile

Location: Ceduna Sub Basin, within the Great Australian Bight, off the coast of South Australia
Area: 9,200 square miles
Water depths: 1,000-2,500 m


Statoil signed a farm-in agreement with BP, acquiring a 30% equity share into four BP exploration licenses offshore South Australia named EPP 37, 38, 39 and 40. The four licenses – EPP 37, 38, 39 and 40 – are located in the frontier Ceduna Sub Basin within the Great Australian Bight, off the coast of South Australia. The proposed GAB drilling area has water depths of approximately 1,000-2,500m.The area covers more than 9,200 square miles. BP has already completed a 4,600-square mile 3D seismic data survey within the license area and is currently finalising the processing of this date. According to Statoil, the next steps include the maturation of drillable prospects and environmental studies, with the work program including the drilling of up to four wells within the largely untested license area. BP will remain as operator of the licenses.

BP decided to abandon the drilling program in the Great Australian Bight as it intends to focus on opportunities likely to create value in the near to medium term. (October, 2016)



Operators:

EPP37 and EPP38

BP: 100% interest


EPP39 and EPP40

Statoil: 100% interest


Contractor:

Diamond Offshore: Drilling contract

Petroleum Geo-Services (PGS): 3D shoot in the Ceduna sub-basin, off the coast of South Australia. The survey, known as Springboard, will cover an area which was currently lacking any 3D seismic data.