Carnarvon Petroleum has secured a new oil and gas exploration block in the Barrow Sub-basin offshore Western Australia.
The 1,450km² EP 491 block is adjacent to Harriet’s joint-venture oil and gas fields, which have produced more than 100 million barrels of oil and 175 billion cubic feet of natural gas.
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Apache Energy operates oil and gas processing facilities on Varanus Island, where extensive infrastructure exists within the Harriet area.
EP-491 is located on the eastern flank of prolific oil producing Barrow Sub-basin with a substantial area already covered by 3D seismic data.
Carnarvon said that major hydrocarbon accumulations also occur further north of the blocks in a different reservoir setting.
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The Wandoo and Stag fields have recoverable oil estimated to be around 100 million and 50 million barrels respectively.
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By GlobalDataThe initial three-year period work commitments are limited to reprocessing the current 3D seismic and geological studies.
Carnarvon Petroleum managing director Adrian Cook said: "Securing a significant acreage position just to the south of two major oil fields with minimal commitments compliments Carnarvon’s strategy for expansion on the North-West Shelf.
"That the blocks are already covered by extensive modern 3D data, combined with shallow water depths and reservoir targets, means that future exploration costs will be kept to a minimum as we pursue significant oil prospects in the acreage."
Image: Petroleum exploration permit EP-491 (bid block L11-7) on the eastern flank of the prolific oil producing Barrow Sub-basin. Photo: courtesy of Carnarvon Petroleum.
