Eni commits to Blackwood 3D survey offshore Australia

Offshore staff

MELBOURNE, Australia – Eni Australia has committed to acquisition of the Blackwood 3D seismic survey offshore northern Australia, according to partner MEO.

Under the terms of Eni’s May farm-in agreement to the NT/P68 exploration permit, the option to commit to acquire the seismic was exercisable within 60 days of the Heron-3 well result.

Eni has contracted the Viking II vessel from CGGVeritas to acquire a 698-sq km (269-sq mi) 3D survey (designated the Bathurst 3D Seismic Survey) to the east of the Blackwood-1 gas discovery well.

Acquisition should start shortly, pending receipt of all required statutory approvals.

Eni will pay MEO’s share of the costs to acquire and process the data. It will also have 365 days from completion of the acquisition to exercise (or not) its option to drill, and to pay 100% of the cost of the Blackwood-2 well in order to retain its 50% interest in Blackwood.

12/02/2011