Quadrant Energy, Carnarvon team in oil project off Australia

Carnarvon Petroleum has joined Quadrant Energy in a new Barrow sub-basin oil project, offshore Australia.

The company on Thursday said it acquired a 35% interest in retention licence TR/3, containing the previously discovered Blencathra oil resource, WA-155-P containing the Outtrim-1 oil discovery and WA-486-P, offshore Australia.

Carnarvon acquired part of the project from Japan’s Inpex, through the acquisition 28.5% in Part 1 of Block WA-155-P. The block is located about 50km offshore Western Australia.

The objective of the project is to discover and aggregate sufficient oil resources to underpin a field development, Carnarvon explained. It said that central to the strategy would be the result of the Outtrim East-1 well which will in addition to testing the extent of oil discovered in the Outtrim-1 reservoir, investigate the potential for new oil charged sands to the north and east of the original 1984 well.

Quadrant Energy – as operator with 65% – is currently planning to drill the Outtrim East-1 well around June 2016 using the contracted Noble Tom Prosser drilling rig, Carnarvon said.

Carnarvon Managing Director and CEO, Adrian Cook said, “This project illustrates the mutual confidence and strong relationship between Carnarvon and Quadrant Energy, as well as underpinning our focus on North West Shelf oil and gas exploration. The opportunity provides us with tremendous upside potential for a relatively modest investment, and represents another step forward in our strategy to position Carnarvon for a recovery in oil prices.”

Share this article

Follow Offshore Energy Today

Events>

<< Nov 2019 >>
MTWTFSS
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

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