Karoon Gas Looking for Rig for Browse Basin Work


Karoon Gas Looking for Rig for Browse Ba
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Karoon Gas and its joint venture partner, ConocoPhillips, are currently in the process of identifying a suitable rig for their joint operations in the Browse Basin permits WA-314-P and WA-315-P off Western Australia. Drilling is expected to commence between late 2007 and early 2008 depending on the availability and acquisition of a suitable rig.

Karoon and ConocoPhillips have also been offered, and intend to accept, an additional gazettal W06-6 in the Browse Basin Area off Western Australia. The gazettal W06-6 has been offered by the Department of Industry and Resources and upon approval will be awarded by the Commonwealth Western Australian Offshore Petroleum Joint Authority.

The gazettal area, currently known as W06-6, is located immediately to the south of the Karoon ConocoPhillips joint venture's current WA-315-P permit and east of the Woodside operated Torosa gas/condensate field.

ConocoPhillips will hold a 60% interest in the permit area with Karoon holding the remaining 40%. ConocoPhillips will be the operator of the new acreage.

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