BP commits to deep-water exploration block off Australia

Block WA-525-P was awarded to the UK supermajor on 3 November by the National Offshore Petroleum Titles Authority. The block was one of the 29 permits offered by Australia in the 2015 Blocks Offer.

BP has committed in the initial three-year period to spend about A$10 million on geophysical work. The next three-year period contains an obligation to drill one exploration well before 2 November 2021.

Block