The Australian co-owners of the Greater Cornea oilfields in the Browse basin have withdrawn their application to renew the retention lease over the discoveries, writes Russell Searancke.
The joint venture owners believe the discoveries contain a best estimate contingent oil resource of nearly 30 million barrels of oil but the productivity of the reservoirs has not been proven.
Shell discovered the Cornea oilfield in the late 1990s and, at the time, believed it to be a substantial accumulation.
