Late last week, Shell Development (Australia), the operator and 50% interest holder in the Cornea blocks, together with Cultus Petroleum (25%) and Chevron Asiatic (25%), sought to surrender WA-265-P and WA-266-P to the Western Australia state government after a costly exploration programme that went wrong. Discovered in 1997 in WA-241-P, Cornea was originally thought to hold up to 2.7 billion barrels of oil in place.
Cornea crew attempts to escape
THE JOINT venture partners in the jinxed Cornea prospect off Western Australia have finally agreed to apply for relinquishment of two of their three tracts in the Browse basin, although the move looks certain to be rejected by the Australian authorities.
22 May 1999 0:00 GMT
Updated
22 May 1999 0:00 GMT
