The US supermajor and its Australian co-venturer Karoon Gas have made three discoveries in the area — Poseidon-1, Poseidon-2 and Kronos-1 — and want to develop an LNG project.
They are currently drilling appraisal wells, the first of which, Boreas-1, has drilled through the primary reservoir target and given encouraging signs.
The well is still drilling and, once it reaches total depth, a series of operations will be carried out to better define the findings.
