3D survey under way in Australian northern sector

Offshore staff

MELBOURNE, Australia – Eni has notified MEO Australia that the Bathurst 3D seismic acquisition program has started off northern Australia.

CGGVeritas’ M/V Veritas Viking II is performing the 698-sq km (270-sq mi) survey on the Blackwood East area of permit NT/P68. According to MEO, the program should be completed within 50 days.

Under the terms of a farm-in agreement, Eni will pay MEO’s share of the costs to acquire and process the survey.

Eni will also have 365 days from completion of acquisition to decide whether or not to commit to drill and pay 100% of the cost of the Blackwood-2 well, in order to retain its 50% interest in the Blackwood gas discovery.

12/07/2011