MELBOURNE, Australia – MEO has been awarded 100% of a new exploration permit in the Bonaparte basin offshore northern Australia.
WA-454-P contains the 2007 Marina gas/condensate discovery and is close to the Petrel/Tern/Frigate gas discoveries, all under review for a floating LNG development, and the producing Blacktip gas field.
Under the initial three-year term MEO will acquire 300 km (186 mi) of new 2D seismic and perform geotechnical studies by June 8, 2012. Year 2, through June 8, 2013, involves reprocessing 750 km (466 mi) of 2D data, while Year 3 calls for acquisition of 400 sq km (154 sq mi) of 3D seismic.
The second three-year term involves drilling of one exploratory well.