Joint venture partner Santos said ConocoPhillips carried out volumetric studies on the three wells drilled in the previous appraisal drilling programme in 2015.

These studies indicated the potential for a best estimate resources “due to better reservoir development across the Barossa field”, said Santos chief executive Kevin Gallagher.

This reserve analysis would be further refined in 2017 after the conclusion of the current two-well appraisal programme, added Gallagher.

Santos