3D Oil Gets More Time to Work on West Oz Permit
Sydney-listed 3D Oil has been granted a 21-month suspension and extension by the National Offshore Petroleum Titles Administrator (Nopta) for the offshore Bedout sub-basin permit WA-527-P, it said April 1.
This now provides 3D Oil until December 2021 to acquire and process a minimum of 510 km2 of 3D seismic data. The approved minimum work programme was submitted in July 2019.
“Recent oil and gas migration studies have high graded the prospectivity of leads for oil and are the focus of 3D Oil’s ongoing farm-out campaign. A number of major strategic parties have expressed interest in the permit following the Dorado-1 discovery which has been enhanced by the recent studies,” the company said, adding it has identified at least fifteen leads across the permit.
WA/527-P is approximately 80-km north-east of the recent Dorado oil and gas-condensate discovery, which is one of the biggest finds off Australia in recent years with 283mn barrels of oil equivalent proven and contingent resources.