3D Oil Completes 3D Seismic Survey in Permit T/49P in Otway Basin
3D Oil Ltd. (TDO) reported Thursday that the Flanagan seismic survey in the T/49P permit in the offshore Otway Basin, Australia is now complete, within budget and without safety incident.
The 376 square miles (974 square kilometers) Flanagan survey was completed by the vessel Polarcus Asima in just over one month of operations west of King Island.
TDO Managing Director Noel Hewell commented: “We are very pleased with the conduct of the Flanagan survey which, despite some periods of challenging weather conditions, has been completed on schedule and within budget. TDO would like to thank the personnel on the Asima and all the dedicated and professional contractors and staff involved in making this a safe and successful operation. We now look forward to the next step in our quest to discover new gas resources from T/49P to supply the markets in eastern Australia.”
The seismic data recorded by the Asima will be processed by DownUnder GeoSolutions in Perth. DownUnder has developed a worldwide reputation as a leading edge data processor. Data processing for modern 3D seismic is a highly sophisticated process which will require several months to produce data volume for interpretation by 3D Oil’s geoscientists. Interpretation and assessment of the geology and prospectivity of the area will also likely require several months. As a result, TDO anticipates that the results of the Flanagan survey will be available in mid-2015.
Pursuant to the Farmin Agreement announced on Nov. 24, the T/49P Joint Venture is now comprised of TDO at 70 percent and operator, and Beach Energy Ltd. at 30 percent.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- North America Enters Rig Loss Streak
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension