BP receives approval from NOPSEMA to drill Ironbark-1 well

17 July 2020 (Last Updated July 17th, 2020 11:18)

Australian offshore regulator NOPSEMA has approved BP’s environment plan for the Ironbark-1 exploration well.

BP receives approval from NOPSEMA to drill Ironbark-1 well
Cue will hold a 21.5% interest in the permit while BP (42.5%), Beach (21%), NZOG (15%) will hold the remaining stake. Credit: Carsten ten Brink.

Australian offshore regulator NOPSEMA has approved BP’s environment plan for the Ironbark-1 exploration well.

The Ironbark prospect is located in exploration permit WA-359-P, which is situated in the Carnarvon Basin, around 50km from the North West Shelf (NWS) LNG infrastructure.

BP operates and owns 42.5% in the permit. Other partners include Cue Energy (21.5%), Beach Energy (21%), and New Zealand Oil & Gas (15%).

In October 2018, Cue Energy Resources’ subsidiary Cue Exploration signed an agreement with BP Developments, Beach Energy and New Zealand Oil & Gas (NZOG) to form a joint venture (JV) to undertake drilling operations at the Ironbark-1 exploration well.

Drilling activities at Ironbark-1 are planned to start in October using the Diamond Offshore-owned Ocean Apex drilling rig.

The well is expected to be drilled at a depth of 5,500m.

Cue Energy CEO Matthew Boyall said: “Cue Energy welcomes the approval of the Ironbark Exploration Drilling Environment Plan and is excited with the continuing progress toward the drilling of the Ironbark-1 well, which is expected to spud in about three months.

“Cue holds a significant 21.5% participating interest in the world-class Ironbark gas prospect, which, if successful, could be company changing for Cue and deliver environmental and economic benefits to Australia and the region.”

In June last year, Cue Exploration formed a JV with partner companies to test the Ironbark prospect in WA-359-P.