The Karoon Gas/ConocoPhillips joint venture in the Browse Basin has been granted an extension in which to complete its third year work commitments for WA-314-P and WA-315-P located offshore Australia.
The Department of Industry and Resources (DOIR) has notified the operator, ConocoPhillips, in writing that "the suspension and extensions for WA-314-P and WA-315-P are as follows:
- Suspend the condition requiring the completion of Year 3 work by Feburary 11, 2007 for a period of twelve months to February 11, 2008, and;
- extend the term of the Exploration Permits WA-314-P and WA315-P for a period of twelve months from February 11, 2010 to February 11, 2011.
By way of clarification the effect of this suspension is that Year 3 runs to February 11, 2008 and Year 4 starts on February 12, 2008.
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