Seismic exploration company Shearwater GeoServices has confirmed a contract award from ConocoPhillips for the Sequoia 3D survey in the Otway Basin, offshore Australia.
ConocoPhillips, as operator of T/49P, has contracted Shearwater vessel the Geo Coral to acquire approximately 2,700 square kilometres of 3D seismic data.
The operator and its Australian partner 3D Oil recently filed a plan proposing to carry out the Sequoia 3D seismic within exploration permit T/49P.
The survey should take approximately 60 days between the beginning of August and the end of October 2021.
“We see a solid, consistent level of activity in Australia where we have multiple projects booked in 2021,” said Irene Waage Basili, CEO of Shearwater. “We observe increasing regional demand for our vessels equipped with high-end technology, which is reflected in backlog and utilisation.”
ConocoPhillips owns 80 per cent of the T/49P. Specifically, under the terms of the farmout agreement with 3D Oil, the company was to acquire a minimum of 1580 square kilometres of 3D seismic.
The increase in size of the acquisition area will provide coverage of all leads within the T/49P and tie with the previously acquired Flanagan 3D seismic survey.
Upon completion of the acquisition, processing and interpretation of the 3D seismic survey, ConocoPhillips may elect to drill an exploration well.
Noel Newell, 3D Oil executive chairman, explains further: “This a key milestone for the company in the realisation of the significant gas potential identified in T/49P,”
“3D Oil strategically acquired this permit with the view that this area is arguably the last on the east coast with significant remaining gas reserves.”