Australian energy company WHL Energy has signed an agreement with CGG Services for La Bella 3D seismic survey acquisition.
The seismic survey will be conducted using CGG’s Viking II vessel to acquire data with Broadseis broad band seismic acquisition technology.
The survey is expected to start in mid-November and WHL is planning to develop an initial processed data volume by mid-February 2014, while the final processed data is anticipated to be released in May 2014.
The survey area is situated about 35km off the coast of Port Campbell in the Otway basin, in offshore Victoria.
The survey cost is expected to be about $12m, while 75% of the cost will be funded by the AWE, while Tap Oil will fund 20%, which is up to $2.95m, to have an option to acquire ten percent equity in Vic/P67.
WHL Energy managing director David Rowbottam said data from the 3D survey will assist with confirmation and definition of the La Bella gas andcondensate resource and progress the development planning and commercialisation of the resource.
"The acquisition of this seismic survey is an important milestone in the La Bella project timeline as the Company and Joint Venture continues to work towards bringing the project to commercial fruition," Rowbottam added.
Image: The CGG Viking II vessel. Photo courtesy of WHL Energy.