NOPTA approves partnership for Ironbark permit offshore Australia

Exploration permit WA-359-P is in the Carnarvon basin offshore Western Australia.
Exploration permit WA-359-P is in the Carnarvon basin offshore Western Australia.
Cue Energy

Offshore staff

MELBOURNE, Australia – Cue Energy has received approval from Australia’s National Offshore Petroleum Titles Administrator (NOPTA) for title transfers of exploration permit WA-359-P offshore Western Australia.

NOPTA has ratified title transfers to BP (as operator), Beach Energy, and New Zealand Oil & Gas and the formation of a joint venture between the parties.

The permit contains the potentially giant Ironbark gas prospect, thought to hold up to 15 tcf recoverable.

Cue CEO Matthew Boyall said: “BP will become operator of WA-359-P and continue with the planning and execution of the Ironbark-1 exploration well, which is due to be drilled in late 2020.”

On completion of the agreements, the participating interests will be BP 42.5%, Cue 21.5%, Beach 21%, and New Zealand Oil & Gas 15%.

WA-359-P is in the Carnarvon basin. The Ironbark-1 well will likely be drilled to a depth of 5,500 m (18,044 ft).

BP is presently putting together an environment plan for the well site survey and drilling activities.

05/23/2019

More in Regional Reports