Australian MEC Resources has informed that a contract for the seismic activities within PEP11 in the Sydney Basin, offshore Australia, has been finalized.
MEC Resources reported in March it was carrying out preparatory works for the seismic survey in the basin, including procurement of specialist seismic service providers.
According to the company, the contracted vessel will perform a high resolution 2D seismic survey covering approximately 200 line km to assist in the drilling of the Baleen target approximately 30 km south east of Newcastle, New South Wales.
MEC did not reveal the timing of the survey as it remains to be confirmed, pending necessary regulatory approvals, nor the identity of the seismic services provider.
This “Baleen HR” survey will cover approximately 200 line km and is also proposed to be tied-in to the New Seaclem-1 well location to facilitate lithological calibration, the company said.
A drill target on the Baleen Prospect on seismic data line B4-18 with total depth of 2150 metres has been identified in a review of previous seismic data. Intersecting 2D lines suggest an extrapolated 6000 acre (24.3km2) seismic amplitude anomaly area at that drilling target, MEC explained.
Further, the company added, the report on this drilling target noted previous 2D seismic data showing that the Permian aged section of the Bowen Basin has conventional gas fields at similar time and depth to PEP11 at the Triassic/Permian age boundary.
These fields have inter-bedded coal and gas sands in the late Permian that are probably correlative to the PEP11 late Permian target, MEC said.
PEP11 is held 85% and operated by Asset Energy, a wholly owned subsidiary of Advent Energy, an investee entity of MEC Resources. Bounty Oil & Gas NL holds the remaining 15% of PEP11.