The company said it hopes to use its technology in Tasmania’s untapped frontier basin, which holds unexplored oil and gas reserves.
Terra CEO Dmitry Vilbaum said the company’s technological advantage in frontier area exploration has been enhanced following its partnership with Terralinna last year and will help the company undertake exploration in Tasmania.
Terra president Alexandre Agaian said the company launched the Terra Diversified Drilling project for exploration opportunities in the US. The exploration of Tasmania will now be added to the project.
“The Terra Technology Suite will enable the company and its partners to substantially shorten the expense and time of exploration in Tasmania, reducing the early exploration stage financial exposure to a minimum,” said Agaian.