CGGVeritas Services SA began a marine 3D seismic survey over Karoon Gas Australia’s WA-482-P permit area in the Northern Carnarvon Basin. The survey will cover about 2386sq km and will define leads and prospects first identified on existing 2D and 3D seismic data. CGG is using the Geo Caspian to gather the data and preliminary results are expected near the end of 2013.
The WA-482-P permit is in the first year of a three-year initial term and the seismic evaluation work will prepare the company for a drilling decision required before the start of the third-year work commitment. Karoon is completing the final equity transfer process. At completion, and subject to farm-in obligations, Karoon will hold a 100% equity interest in WA-482-P.