New W. Australia offshore block for Carnarvon

Carnarvon Petroleum Ltd has been awarded the Petroleum Exploration Permit EP-491 (bid block L11-7) on the eastern flank of the prolific oil producing Barrow Sub basin, offshore Western Australia.

Carnarvon is Operator and 100% working interest holder in this block with a total area of around 1,450 km2 . Numerous oil and gas fields are present to the north and west of the block, including the significant hydrocarbon accumulations in the Harriet area, reservoired within the highly productive Flag Sandstone.

Cumulative production from the Harriet fields has exceeded 100 million bbls of oil and condensate and 175 bcf of natural gas. Extensive infrastructure exists within the Harriet area, including oil and gas processing facilities on Varanus Island operated by Apache Energy.

A substantial area of the block is already covered by modern 3D seismic data that will aid in identifying analogous traps to those occurring immediately to the west. The majority of the block lies in shallow water capable of access by a jack-up drilling rig, which when combined with shallow drilling targets, results in estimates for exploration drilling that will be some of the lowest costs in the North West Shelf.

Major hydrocarbon accumulations also occur further north of the blocks in a different reservoir setting. The Wandoo and Stag fields have recoverable oil estimated to be approximately 100 and 50 million barrels respectively. Work commitments for the primary 3 year period are limited to reprocessing the existing 3D seismic and extensive geological studies and will not add any significant cost exposure to Carnarvon’s already low future commitments.

“Securing a significant acreage position just to the south of two major oil fields with minimal commitments compliments Carnarvon’s strategy for expansion on the North West Shelf. That the blocks are already covered by extensive modern 3D data, combined with shallow water depths and reservoir targets, means that future exploration costs will be kept to a minimum as we pursue significant oil prospects in the acreage,” Carnarvon Managing Director Adrian Cook said.

 

Press Release, May 29, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 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 1 2 3 4 5 6

Africa Oil & Power 2019

The Africa Oil & Power conference will bring together an elite class of ministers and senior-level government…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

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