Apache, JX Nippon Farm Into Western Australian Offshore Permits

Apache, JX Nippon Enter Farm Into Western Australian Offshore Permits

Apache Northwest Pty Ltd and JX Nippon Oil & Gas Exploration (Australia) today signed farm-in agreements with Carnarvon Petroleum Limited and Joint Venture partner, Finder Exploration Pty Ltd to acquire interests in exploration permits offshore Western Australia.

The permits WA-435-P and WA-437-P hold Phoenix South and Roc prospects, respectively.  According to Carnarvon and Finder evaluations, both the prospects have the potential to contain multi Tcf. of recoverable gas and significant associated volumes of liquids. The prospects are located near the Phoenix-1 gas discovery.

Adrian Cook, Carnarvon CEO and Managing Director was happy to welcome new partners to the JV: “Carnarvon is pleased to welcome Apache and JX Nippon to the Joint Venture and is looking forward to working with the other Joint Venture participants in realising the potential in these permits. This is an exciting time for Carnarvon and its shareholders given the resource potential of both the Phoenix South and Roc prospects.”

Following the execution of the farm-in agreements, Apache will take over operatorship of the two blocks with a 40 per cent interest, while Carnarvon, Finder and JX Nippon will own a 20 per cent stake each.

Phoenix and Roc prospects will both target gas in lower Triassic reservoirs, but Carnarvon also expressed belief that the area has the potential to hold significant oil reserves. Carnarvon said that approximately 25 new exploration wells will be drilled in the next five years in this region.

Offshore Energy Today Staff, October 18, 2012

Share this article

Follow Offshore Energy Today

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply