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Cooper Energy Awarded Otway Basin's VIC/P76 Offshore Exploration Permit

Gasoil News - Published on Fri, 27 Sep 2019

Image Source: ppo.com.au
Cooper Energy announced it has been awarded the offshore exploration permit VIC/P76 located in the Otway Basin, offshore Victoria. VIC/P76 comprises an area of 162 kilometer in water depths ranging from 60 metres to 70 metres of the offshore Otway Basin. Commercial gas discoveries surround the permit, including the recently depleted Minerva gas field to the east and the producing Casino, Henry and Netherby gas fields to the west. The Annie gas field discovery, announced 6 September 2019, adjoins the western boundary of VIC/P76. There are no previous wells drilled within the permit area. Good quality 3D seismic data covers most of the permit, from which Cooper Energy has identified several amplitude-supported prospects. The most significant, Nestor, has many similarities to the Annie gas discovery including the Waarre C reservoir, trap configuration and potential resource size. Nestor is located 9 km east of the Casino gas field as illustrated.

Mr Mr David Maxwell MD of Cooper Energy said that “VIC/P76 is a logical and appealing complement to our existing Otway Basin gas assets. It adjoins the Annie gas discovery and Casino production licence and is traversed by the Casino gas pipeline which we are planning to connect to the Minerva Gas Plant. The recent discovery of gas at Annie-1 has reinforced the prospectivity of this area of the offshore Otway Basin for gas exploration and the high success rate of drilling amplitude-supported targets in the region."

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Posted By : Rabi Wangkhem on Fri, 27 Sep 2019
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