Trimming acreage: Woodside surrenders Carnarvon basin permit
Operator walks away from offshore permit where unsuccessful wildcat was drilled as commitment to drill another exploration well loomed
Australian operator Woodside Petroleum has surrendered an offshore permit where it drilled an unsuccessful exploration well in 2018.
Australia’s National Offshore Petroleum Titles Administrator approved Woodside’s application this week to surrender the WA-483-P permit, off Western Australia.
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Prior to drilling, the prospect had been estimated to hold between 20 million and 100 million barrels of oil equivalent and was located just 30 kilometres from Woodside’s Enfield and Vincent fields.
Woodside had a commitment remaining to drill another exploration well on the block by 8 November next year if it did not surrender the permit.
Woodside was awarded the WA-4830-P permit in 2013 and subsequently farmed out a 40% stake to Kufpec, with the Australian operator maintaining the remaining 60% equity.
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