Cultus, OMV awarded North West Shelf permits

The state of Western Australia and the federal government have awarded two permits off Western Australia to a consortium of Cultus Timor Sea Pty. Ltd. and OMV Petroleum Pty. Ltd., said the federal Ministry for Industry, Science, and Resources.


HOUSTON, July 11 -- The state of Western Australia and the federal government have awarded two permits off Western Australia to a consortium of Cultus Timor Sea Pty. Ltd. and OMV Petroleum Pty. Ltd..

The federal Ministry for Industry, Science, and Resources said permits WA-308-P and WA-309-P are in the Carnarvon basin.

The companies agreed to spend $15 million in the areas over 6 years.

The two permits are the result of applications made in the November close of bidding for areas rereleased out of the 1999 offshore petroleum exploration acreage release.

The government agency said the areas are "in the heart of the North West Shelf, with access to major oil and gas field developments and infrastructure."

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