Santos and INPEX were awarded two exploration permits offshore Western Australia.
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Image from INPEX. |
Blocks WA-513-P and WA-514-P are located about 500km north-northeast of Broome and cover areas of 335sq km and 415sq km, respectively, at 300-400m water depth.
According to INPEX, the blocks are situated near large gas reserves that have been discovered, including the Ichthys gas-condensate field, as well as the Prelude and Concerto gas fields.
Santos is the operator of the blocks with 60% interest. INPEX through its subsidiary, INPEX Browse will hold the remaining 40%.
Near Block WA-513-P, Santos made a gas discovery in August at its Lasseter-1/ST1 exploration well, located in Block WA-274-P. Block WA-274-P is located 50km west-northwest of INPEX's Ichthys LNG project. The block and its surrounding areas are considered to be an area of high exploration potential.
INPEX says that exploration of the blocks will help the company maximize the potential value of the Ichthys LNG project, in line with the company’s strategic objectives.
The Ichthys field, located in the Browse basin in the Timor Sea, approximately 200km off Western Australia and 800km southwest of Darwin, is comprised of two hydrocarbon reservoirs, Brewster and Plover. The field is estimated to hold 12.8 Tcf of gas and 527 MMbbl of condensate.
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