Project Profile
Value: Undisclosed
Location: Shallow waters off Tasmania, next to the discovery Thylacine, offshore Otway basin, Australia
Reserves: 5 Tcf
Area: 4,960 square kilometres
Water Depth: 100 metres
Start-up Year: -
3D Oil has acquired a frontier exploration block in shallow waters off Tasmania, next to the Otway basin’s largest gas discovery, Thylacine, in the offshore Otway basin. The company was awarded the T/49P permit as part of Australia’s 2012 offshore gazettal round. It covers 4,960 square kilometres in water depths no greater than 100 metres and is located adjacent to the Thylacine and Geographe gas fields, which have been estimated to hold more than 2 trillion cubic feet of gas-in-place (combined). T/49P has been only lightly explored via a broad grid of 2D seismic data and two early exploration wells. 3D Oil identified a number of strong leads with a combined gas-in-place estimate of more than 5 Tcf. Under a three-year minimum guaranteed work programme, 3D Oil is required to undertake the reprocessing of 500 kilometres of 2D seismic data, acquire 755 square kilometres of new 3D seismic and complete geological and geophysical studies on the block.
Operators:
3D Oil: Operator with 70% interest
Beach Energy Limited: 30% interest
Contractors:
Polarcus: Services contract using the Polarcus Asima to acquire the Flanagan 3D seismic survey in th T/49P Permit offshore in the Otway Basin, offshore Tasmania, Australia. The Asima is a modern high-specification vessel and acquisition is expected to commence during November.