Melbana Gets More Time to Find Beehive Drilling Partner

Friday, May 29, 2020
Image Credit: Melbana

Australian oil and gas company Melbana Energy has been given more time to work on its Beehive offshore prospect in the Bonaparte Basin off W. Australia.

The company said Friday that the National Offshore Petroleum Titles Administrator had approved Melbana's application for a 12-month suspension of the work program conditions in respect of Permit Year 3 (with a corresponding extension of the permit term) for the WA-488-P block containing the Beehive prospect.

As a result, Permit Year 3 now ends on 21 December 2021 and the permit term will end on 21 December 2023.

The offshore block WA-488-P contains the giant Beehive prospect – a carbonate build-up that has been independently assessed to have a prospective resource of 388 million barrels of oil equivalent (best estimate). 

A 3D seismic survey has been completed over the prospect and considerable progress has been made on planning and permitting for an exploration well.

Melbana is on a lookout for a drilling partner for the Behive, as Australian oil and gas company Santos, and France's oil giant Total who had had options to farm-into the block, opted not to.

Beehive, sitting in a water depth of 40 meters, is located close to several existing facilities, including the Ichthys project and Blacktip field and pipeline offering several options for future monetization, Melbana has previously said.

Melbana Energy’s Executive Chairman, Andrew Purcell, said: "We will use this extra time to continue to evaluate the 3D seismic results and further progress discussions with potential farminees for the drilling of an exploration well into this structure. These types of carbonate buildups are responsible for some of the world’s largest discoveries. When they work, they tend to work big, as can be seen in the estimates of prospective resource being significantly skewed to the upside, so we will continue to work towards the drilling of this important prospect.”

Categories: Energy Offshore Energy Drilling Industry News Activity Australia/NZ

Related Stories

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

MDL Secures Cable Laying Job in Asia Pacific

MDL Secures Cable Laying Job in Asia Pacific

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Valeura Makes Progress with Multi-Well Drilling Campaign in Gulf of Thailand

Valeura Makes Progress with Multi-Well Drilling Campaign in Gulf of Thailand

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Chuditch Gas Field Drilling Ops Get Delayed to Next Year

Fugro Expands Geotechnical Testing Capabilities in Indonesia

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Current News

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

Aesen, DOC JV Targets Subsea Cable Logistics

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Seatrium Secures ABS Backing for Deepwater FPSO Design

MDL Secures Cable Laying Job in Asia Pacific

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Yinson Production Nets DNV Approval for New FPSO Hull Design

Hanwha Ocean's Tidal Action Drillship Starts Maiden Job with Petrobras

photo

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com