Petrofac skips option on NT/P68 off Australia

Offshore staff

MELBOURNE, Australia – MEO Australia Ltd. says Petrofac Energy Developments will not exercise its option to acquire 5% interest in NT/P68 and Tassie Shoal.

As a result, MEO retains its undiluted interest in NT/P68.

MEO operates the approximately 6,000 sq km (2,317 sq mi) permit in Bonaparte basin. The permit is close to other discovered gas fields approximately 300 km (186 mi) from Darwin and contains two gas discoveries - Heron and Blackwood. Heron-2 intersected more than 200 m (656 ft) of gross gas column in the Plover sands of the Heron North structure.

Tassie Shoal is an area of shallow water in the Timor Sea some 275 km (171 mi) northwest of Darwin. The shoal is central to seven undeveloped gas fields within a 150 km (93 mi) radius. MEO is proposing to use Tassie Shoal as a regional development hub and has secured environmental approvals to locate two 1.75 Mtpa methanol plants and a single 3 Mtpa LNG plant on the shoal.

07/01/2011



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...