MEO Australia revealed Wednesday that it will allow Eni more time to make a decision on whether to drill a second Heron well or withdraw from the NT/P68 permit in the Timor Sea.
The Italian major has until Mar. 1, 2013 to make its decision.
Under the terms of the NT/P68 farm-in agreement dated May. 17, 2011, Eni originally had 60 days from the completion of the Heron South-1 well to decide on the second well or withdrawal.
Heron South-1 was spudded on Aug. 24, 2012. The well reached a total depth of 14,613 feet (4,454 meters). Two gas bearing intervals of 394 feet (120 meters) and 377 feet (115 meters) were intersected by around 427 (130 meters) of shale and silt. Both production tests flowed gas to surface at rates too low to be measured accurately due to a collapsed borehole and cyclone interruptions.
The jackup - ENSCO 109 - used in the drilling of Heron South-1, was released on Dec. 14, 2012.
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