Tap Oil: Woolybutt Production Remains Shut-In

Tap Oil Limited advises that oil production from the Woollybutt field remains shut-in pending ongoing reviews and repairs.

The Woollybutt field is located in permit WA-25-L off the coast of Western Australia, approximately 40km west of Barrow Island.

Subsequent to the initial event on 9th April, the Operator of the facility (AFM/Premuda) and the permit Operator (Eni), and NOPSA have conducted investigations as to the causes of the recent problems being experienced on the facility and remedial actions are being undertaken.

Tap is working closely with the permit Operator (Eni) to rectify the deficiencies that have been identified in the recent investigations. Every effort is being made to return the facility to production as rapidly as possible but only when we are confident of its safety.

This event has not impacted the reserves of the Woollybutt field, with production deferred for the period of the shutdown.

Progress of the Woollybutt South development has not been affected by the FPSO shutdown. The installation vessel is due to arrive on site this week to commence the Woollybutt South hookup which is scheduled to take approximately 25 days. Production is due to commence immediately following commissioning of the newly installed facilities at a total field rate of approximately 12,000 bopd.