Oil and gas company ConocoPhillips Australia announced a major natural gas discovery in the Otway Basin offshore Victoria, Australia, the first recorded discovery in the Otway Basin since 2021. The discovery was made in the exploration well Essington-1, located 53 kilometers offshore Port Campbell.
Geophysical logs obtained during drilling indicated the presence of gas in two sand formations, Waarre A, with a gross hydrocarbon column of 62.6 meters, and Waarre C, which contributed an additional 33.2 meters. Both zones are considered key to the drilling program in the VIC/P79 block, managed under an approved environmental plan.
Technical analysis and next steps
According to the company, the Essington-1 well will be sealed and abandoned upon completion of technical operations, following established environmental protocols, however, additional studies will be conducted to evaluate production flow rates, estimated recovery and commercial viability of the reservoir.
In parallel, drilling of a second well in the same area, called Charlemont-1, is expected to begin in December. This progress is part of Otway’s Exploration Drilling Program, which seeks to strengthen the company’s presence in South Australia.
International strategic alliance
The project is being developed through a joint venture in which ConocoPhillips holds a 51% stake as the main operator. It is followed by Korea National Oil Corporation (29%) and 3D Energi (20%), completing an internationally focused consortium committed to the development of energy resources in the region.
Forward-looking exploration
ConocoPhillips believes that the discovery at Waarre A and C may open the door to further drilling in the Otway basin, depending on climatic, technical and regulatory conditions. Depending on the results, further wells could be contemplated within the framework of the already approved environmental plan.
Source: ConocoPhillips