Polarcus begins seismic surveys over Neptune’s field offshore Australia

Seismic services provider Polarcus has begun seismic surveys in the Neptune Energy-operated Petrel field, located in the Bonaparte Basin offshore Australia, which is the first substantial investment in Petrel for five years.

Polarcus Asima vessel
Polarcus Asima seismic vessel; Source: Polarcus

Neptune said on Wednesday that the study would expand the area of seismic data the company holds and significantly increase the quality and breadth of data to allow Neptune and its partners to plan for the future.

Neptune, on behalf of the Petrel JV, has entered into a non-exclusive data licensing agreement with Polarcus, which is acquiring the Petrelex 3D seismic survey.

Neptune Energy Australia Managing Director, Janet Hann, said: “The Bonaparte Basin presents exciting growth opportunities for Neptune, and Petrel may play a significant role in our future aspirations for the area. We look forward to working closely with our partners as we deepen our knowledge of Petrel in order to define the potential for further development.”

Polarcus secured approval for an Environmental Plan allowing acquisition of new 3D multi-client data to be acquired across the field.

The Polarcus Asima vessel began the campaign on November 30 and will continue into late January 2020, subject to operational conditions, covering 2,900 Km2 of territory. Data from the survey will be available in the fourth quarter of 2020.

Neptune holds 54% of the project and alongside its partners Santos (40.25%) and Beach Energy (5.75%) is investing in new broadband technology over an expanded area in order to get a better understanding of the significant potential resources that Petrel holds.

Bonaparte basin map
Bonaparte basin map; Source: Neptune Energy

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