Transocean Equinox rig arrives to embark on Otway Basin exploration

The Transocean Equinox rig has arrived successful the Otway Basin, marking a important measurement for the Otway Exploration Drilling Programme (OEDP) scheduled for 2025.

The absorption of the programme is to research viable earthy state reserves successful the Otway Basin, with ConocoPhillips Australia (COPA) and 3D Energi cardinal players successful the venture.

ConocoPhillips Australia, the relation of the VIC/P79 and T/49P exploration permits, holds a associated task with 3D Energi, which retains a 20% involvement successful some permits.

The rig is contracted for a minimum 16-well drilling run done a consortium of 4 operators including COPA.

The OEDP is acceptable to statesman its signifier 1 drilling run successful the 3rd 4th of 2025, taxable to regulatory approvals and operational delays.

3D Energi enforcement president Noel Newell said: “The accomplishment of the drilling rig marks different measurement towards unlocking important state resources successful the offshore Otway Basin done the Otway Exploration Drilling Programme (OEDP). Operational sequencing with the consortium volition spot the associated task commence its signifier 1 drilling run successful 2025, with ConocoPhillips Australia (COPA) carrying up to $65m successful gross costs.

“The OEDP volition play a captious relation successful addressing eastbound seashore state shortages, targeting low-risk state prospects with nonstop hydrocarbon indications (DHIs), situated proximal to infrastructure. Amid tightening state supply, the accomplishment of the Transocean Equinox reinforces the company’s relation successful gathering aboriginal vigor request and unlocking semipermanent maturation opportunities. Potential discoveries successful this run could underpin galore years of state exploration successful the region, providing a semipermanent solution to the East Coast state shortage.”

The situation program (EP) was accepted by the National Offshore Petroleum Safety and Environmental Management Authority connected 28 February 2025.

The EP outlines plans for drilling up to six exploration wells successful h2o depths of 53–200m crossed the VIC/P79 and T/49P permits.

The OEDP volition beryllium executed successful 2 phases, with 2 steadfast wells successful signifier 1 (2025) and up to 4 optional wells successful signifier 2 (2026–28).

3D Energi is supported by COPA for up to $65m (A$103.53m) successful gross drilling costs for the 2 steadfast exploration wells successful signifier one.

Following the EP acceptance, seabed surveys are scheduled to commence successful April 2025, taking astir 4 weeks to complete.

Final good locations volition beryllium determined aft 3D seismic mentation studies are completed crossed the permits.

These locations volition power the steadfast and optional phases of the drilling programme.