Eni-led group withdrawing from offshore Australia permit

Eni and its partners have agreed to relinquish their interests in the WA-34-R Retention Lease offshore northwest Australia.

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Offshore staff

PERTH, Australia – Eni and its partners have agreed to relinquish their interests in the WA-34-R Retention Lease offshore northwest Australia.

The concession, located in the Bonaparte basin, contains the 2000 gas discoveries Prometheus and Rubicon.

According to partner Tap Oil, the lease was extended for a second five-year period in 2015, but following evaluation of various commercialization options for the gas, the conclusion was that returns on potential developments were unattractive, given the costs and risks.

Australia’s National Offshore Petroleum Titles Administrator has confirmed the proposed surrender, which was finalized on Dec. 24, 2019.

01/06/2020

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