MEO Australia Upgrades Marina Gas Resources

MEO Australia has upgraded its assessment of the discovered and the prospective resources associated with the Marina gas discovery in Joseph Bonaparte Gulf, offshore Western Australia.

As per the latest study, Marina is estimated to have best estimate (2C) contingent recoverable resources of 169 billion cubic feet of gas, up 71Bcf of gas from the previous estimates. The company has for the first times assessed the 2C resources for Marina Deep at 236Bcf of gas.

“The recent activity in the Northern Territory gas market highlights the significant unmet demand for gas in the domestic market and the potential for new sources of gas to meet that market,” the company said in a statement.

The company is currently seeking a funding partner to assist with appraising the assessed upside potential of the existing discovered resource as well as testing the deeper potential at Marina. “A successful appraisal program has the potential to advance Marina towards commercial development.”