Quadrant Energy has started drilling of the Phoenix South-3 well on the North West Shelf of Western Australia in an effort to add one trillion standard cubic feet (Tcf) of gas and 88 million barrels (mmbbls) of condensate.
Dorado-1 well, which offers additional upside potential in secondary targets, is scheduled to begin next month as part of the 2018 drilling programme.
Quadrant Energy operates the Phoenix project with 80% interest, while Carnarvon Petroleum holds the remaining 20% stake.
Through the drilling programme, the partners intend to capitalise on the already discovered oil and gas resources and to assist in future decision making around a commercial development.
Until now, drilling at the project has delineated 332bcf of gas and 27mmbbls.
Carnarvon noted that the Dorado structure within the project has the potential to contain several additional targets beneath the Caley interval.
The Phoenix project offers the potential to recover further gas, condensate and oil through additional drilling.
The partners already identified targets around the Roc area, including the Apus and Mensa prospects.
Additionally, ongoing technical work offers scope for several prospects and leads being matured.
Located in shallow water of around 100m, the Phoenix project offers dual income stream potential from oil and gas.
So far, the partners drilled four wells (being Phoenix South-1, Roc-1, Roc-2 and Phoenix South-2), which resulted in four discoveries.