Eni gets another Heron extension

Timor Sea: the location of NT/P68, containing the Heron and Blackwood discoveries, off the coast of Australia’s Northern Territory

Timor Sea: the location of NT/P68, containing the Heron and Blackwood discoveries, off the coast of Australia’s Northern Territory

MEO AUSTRALIA

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Danica Newnham

 04 March 2013 03:03 GMT

Italian energy giant Eni has been granted a further extension to decide on whether to drill a second well in the Heron area of the Timor Sea, off Australia’s Northern Territory.

Project partner MEO Australia said on Monday it would give Eni until 22 March to elect to drill the well.

It had previously extended the election deadline to 1 March.

MEO also said discussions were underway for a more substantial deferral to allow for additional studies to be completed by the joint venture.

Eni is earning a 50% stake in the Heron area of the NT/P68 permit by funding the cost of the first well, Heron South-1, and the second well, if it elects to drill.

The company completed the drilling of Heron South-1…

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