Neptune Completes Survey Off Oz
Neptune Energy May 21 announced the successful acquisition of a 3D broadband seismic survey of the Petrel field in the Bonaparte basin off Australia.
The 2,900 km2 survey significantly expanded the area of seismic data Neptune holds and increased the quality and breadth of data. “Initial findings from the survey have been received with the remaining processed data due to be delivered later this year,” it said.
The Polarcus Asima carried out the survey which began towards the end of 2019. Neptune, on behalf of the Petrel joint venture, entered into an exclusive data licensing agreement with Polarcus Asia Pacific, which acquired the Petrelex 3D seismic survey.
“The seismic survey was the first significant investment in this part of the Bonaparte basin in more than five years and it continues to present exciting future growth opportunities for Neptune offshore Australia. Our deeper understanding of the area also positions us well for the upcoming offshore petroleum exploration release later this year,” Neptune Energy Australia managing director, Janet Hann said.
Neptune holds 54% of the project and, alongside its partners Santos (40.25%) and Beach Energy (5.75%). The Bonaparte basin of the Timor Sea holds significant gas accumulations. Neptune on its website said its Bonaparte development team was appraising the cost-effectiveness of alternative gas supply systems. Transporting the gas to Darwin via pipeline is one option being investigated.