Page 15 - AsianOil Week 15

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Australian regulator approves offshore surveys
PROJECTS & COMPANIES
AUSTRALIA’S offshore regulator has approved two new seismic surveys offshore Western Aus- tralia, even as the companies involved begin cost-cutting initiatives. The National Offshore Petroleum Safety and Environmental Manage- ment Authority (NOPSEMA) said on April 9 that it had approved a proposed 3D seismic sur- vey by local independent Santos as well as a pro- posed 2D survey by Japanese developer Inpex.
Santos intends to conduct its survey over parts of exploration permits WA-435-P, WA-436-P, WA-437-P and WA-438-P, while Inpex will survey exploration permits WA-532-P and WA-533-P.
Santos’ blocks, known collectively as the Greater Phoenix Area, contains the Dorado oil and gas discovery. This is located within WA-437-P in in the Bedout Sub-basin, is esti- mated to contain 448mn barrels of oil equiva- lent (boe) and is believed to be the third-biggest oilfield in the greater North West Shelf.
NOPSEMA said the developer did not plan to undertake its survey this year, but would aim to conduct it either 2021 or 2022. Santos said in March that it would slash its budget for growth projects, which include Dorado, from AUD500mn ($305.5mn) to AUD150mn ($91.6mn).
The survey’s operational area is around 20,160 square km, according to the regulator, which added that Santos would need at least 132 days to acquire the data.
Inpex’s WA-532-P and WA-533-P permits, which were awarded to the company in Novem- ber 217 and March 2018 respectively, lie in the in the Browse and Canning basins. NOPSEMA said that in addition to the two exploration per- mits the survey would be extended to include the producing Browse permit WA-50-L, which feeds the Ichthys LNG export project. NOPSEMA said that based on the environmental risk assessments outlined in Inpex’s environment
plan (EP), an acceptable window of opportu- nity was determined to be from November 1 to May 31 in either 2020 or 2021.
However, the regulator added: “Inpex rec- ognises that the [coronavirus] COVID-19 pandemic presents challenges to undertaking the seismic survey. Due to the current circum- stances, it is possible that the survey may not be undertaken within the proposed timeframe. If required, Inpex will submit an EP revision to accommodate the altered schedule.”
The Japanese developer said in March that it was reviewing its investment plans owing to the oil price collapse.™
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