Agip Spuds Woollybutt Development Well

The Woollybutt-1ST1 development well located in WA-234-P offshore Australia was spudded on September 16, 2002.

Woollybutt-1ST1 is the second production well for the Woollybutt oil field with the first one, Woollybutt-2AST3 being successfully completed and tested last week. Woollybutt-1ST1 is being sidetracked from the original vertical Woollybutt 1 oil discovery well and is planned to drill ahead to 3,200 meters measured depth (2,516 meters true vertical depth) including a 200 meter horizontal section. The well is being drilled by Transocean's semisubmersible, Sedco 702.

The horizontal section of the well is designed to target a mapped attic area to the north-northeast of the original vertical well within the Upper Barrow Group sandstones reservoir. The well is expected to take 20 days to reach its projected total depth of 3,200 meters measured depth. Participans in WA-234-P are Agip as operator with 65%; Mobil Australia with 20% and Tap Oil with the remaining 15%.