Beach Energy completes Otway drilling campaign
Australian oil and gas company Beach Energy has completed its offshore Otway basin drilling campaign, it said on July 12 in a statement.
Drilling started in February 2021 and concluded with the final well of the campaign, Thylacine North 2, completed in July 2022. The seven-well campaign delivered one new gas discovery at the Artisan field and six successful development wells in the Geographe and Thylacine fields.
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Beach said that completion of the drilling campaign is a key building block and milestone in delivering a production target of 28mn boe in FY24. Commissioning of the Geographe development wells in Q3 FY22 contributed to an increase in Otway gas plant average daily production from 52 terojoules/day in Q3 FY21 to 140 terajoules/day in Q4 FY22, the company added.
The connection of the four Thylacine development wells by mid-2023 is expected to enable the Otway gas plant to produce at full nameplate capacity of 205 terajoules/day, with this gas to be sold into existing contracts.
“This increase in production is coming at a time when new gas supply for the east coast market is desperately needed,” Beach said. “Pipeline connections and tie-in of the Thylacine wells are expected to commence in Q2 FY23 post the winter period. All wells are expected online by mid-2023.”
The Otway basin is an onshore and offshore basin that extends approximately 500 km from Cape Jaffa in South Australia to northwest Tasmania.