ConocoPhillips Australia contracts Anchor Handling Tug Supply Vessels for the upcoming Otway Exploration Drilling Program in 2025
ConocoPhillips Australia (COPA) has contracted Anchor Handling Tug Supply Vessels (AHTSVs) for the upcoming Otway Exploration Drilling Program (OEDP) in 2025, according to the company's release.
This contract is one of the largest contracts after the semi-submersible drilling rig Transocean Equinox.
COPA are Joint Venturers (and operators) of VIC/P79 and T/49P exploration permits in offshore Commonwealth waters of the Otway Basin. TDO retains a 20% participating interest in both permits.
AHTSVs will support the Transocean Equinox drilling rig during the upcoming 2025 OEDP.
Three vessels will support the previously contracted drilling rig, Transocean Equinox, with mooring chains/anchor handling, rig positioning and supplies to the rig.
The contract allows for two firm wells and an additional 120 optional days.
TDO is carried by COPA for up to US$65M in gross drilling costs towards the two firm exploration wells and AHTSVs are included in this carry.
AHTSVs will perform a key role throughout the OEDP by assisting the Transocean Equinox with mooring chains and anchor handling, rig positioning and supplies to the rig.
The Joint Venture has previously signed a two-well drilling contract as part of a 2025 exploration drilling program, pending regulatory approval, with an additional 120 days of optional drilling (TDO ASX release 12 July 2023). The contracted semi-submersible drilling rig, Transocean Equinox, recently mobilised to Australia for a five-well drilling contract and is currently expected to arrive in the Otway during the first quarter of 2025.
The drilling Environmental Plan (EP) is currently under assessment with the regulator, NOPSEMA (National Offshore Petroleum Safety and Environmental Management Authority). The EP proposes seabed surveys and the drilling of up to six exploration wells in exploration permits VIC/P79 and T/49P, located in Commonwealth waters offshore of Victoria and King Island, Tasmania. Drilling locations for the two wells in Phase 1 of the drilling program are yet to be determined and will depend on the outcome of 3D seismic interpretation results in both VIC/P79 and T/49P. Depending on the timing of this interpretation, well locations will be assigned to the firm phase of the program and the optional phase of the program.
3D Energi Limited is an oil and gas exploration company based in Melbourne, Victoria, with high-impact projects in offshore Victoria and Western Australia.
