Karoon Granted Permit Extension for WA-314-P and WA-315-P
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.
Operates 12 Offshore Rigs
- Exxon, BP Targeted in NYC Suit That Relies on 'Nuisance' Theory (Jan 10)
- ConocoPhillips Vows Financial Discipline As Aims To Boost Output (Nov 08)
- ConocoPhillips' Profit Beats Estimates, But Budget Cut 10% (Oct 26)
Company: Karoon Gas Australia Ltd. more info
- Karoon Buys PEPC's 35% Stake in 4 Santos Basin Blocks in Brazil for $20.5M (Sep 28)
- PEPC Makes Overdue Payment to Karoon for Brazil's Santos Basin Blocks (Jun 16)
- Karoon Issues Default Notice to Santos Basin Block Partner PEPC (Jun 15)