Offshore staff
KUALA LUMPUR, Malaysia — Hibiscus Petroleum subsidiary, Carnarvon Hibiscus, and 3D Oil have secured approvals for their request to surrender the VIC/P57 exploration permit in the Gippsland Basin offshore southeast Australia.
They submitted their application in February, prior to entering the secondary and optional work program (Year 4), which carried a commitment to drill an exploration well.
3D Oil was awarded a renewal for four of the original eight blocks that previously comprised VIC/P57 in March 2018. The permit covers an area of 246 sq km in shallow waters of the northwest offshore Gippsland Basin, close to existing infrastructure.
The partners conducted a farmout exercise from late 2019 to early 2022 to attract a well carry to drill one of the two prospects they had identified to meet the Year 4 work obligations. However, there were no takers, hence the decision to surrender the permit.
Approval came through from The Commonwealth – Victoria Offshore Petroleum Joint Authority on Aug. 4, followed by a further approval from NOPTA.
08.12.2022
