Karoon Gets Green Light to Start Drilling Browse Basin

5 July 2011 (Last Updated July 5th, 2011 18:30)

Australia's Karoon Gas has received approval from the federal government to begin drilling at three blocks in the Browse Basin project, offshore Western Australia. The $800m drilling plan targets five to six wells, which also includes one in the WA-314-P permit. Subject to en

Australia’s Karoon Gas has received approval from the federal government to begin drilling at three blocks in the Browse Basin project, offshore Western Australia.

The $800m drilling plan targets five to six wells, which also includes one in the WA-314-P permit.

Subject to environmental approval, drilling is expected to commence by the fourth quarter of 2011 and will take 18-24 months to complete, according to The Australian.

The company said the rig contractors will be selected subject to receipt of the necessary approvals.

ConocoPhillips holds a 60% interest in WA-315-P and WA-398-P, while Karoon holds the remaining 40% interest.

Karoon owns 90% of block WA-314-P, while ConocoPhillips owns the remaining 10%.