Tap Oil has secured two exploration permits on the North West Shelf, off the coast of Western Australia.
The blocks, W14-7 and W14-16, were awarded as part of Australia’s Work Program Round 1, which included 14 of 30 blocks being offered under the 2014 Offshore Petroleum Exploration Acreage Release.
W14-07, now petroleum exploration permit WA-515-P, is on the Rankin Platform in water depths, ranging from less than 100m to 400m. It covers approximately 485km².
The permit lies between the Wheatstone gas field to the west and the Goodwyn/Perseus gas fields to the east.
W14-16, now petroleum exploration permit WA-516-P, is to the east of the Alpha Arch on the western flank of the Barrow sub-basin. It is adjacent to other Tap Oil held acreage.
The permit covers 50m to 200m water depth and an area of around 160km². It lies between the Griffin, Chinook/Scindian fields and the Woollybutt oil field.
Tap Oil has agreed to a three year work programme featuring the reprocessing of open file 3D seismic or licensing existing multi-client reprocessed 3D data, quantitative interpretation studies and G&G studies.
Each three year work programme runs through to 5 March 2018.
The majority of the funds are expected to be spent from 2016. The optional secondary work programme includes 3D seismic acquisition in the fourth year and a well in the sixth year.
Headquartered in Perth, Tap Oil has interests in Australia and South East Asia. The company plans to continue a measured exploration and development programme in the future.