Report indicates gas presence in Sydney basin
A report by the Australian government's Geoscience Australia has indicated natural gas features in the offshore Sydney Basin and identified a series of large pockmarks, BPH Energy, whose Advent Energy subsidiary is prospecting for gas in the area, said on May 17.
BPH owns the majority interest in Advent which is an unlisted oil and gas exploration and production company based in Perth, Western Australia. Advent, through wholly-owned subsidiary Asset Energy, holds 85% of PEP 11 in the offshore Sydney basin. Bounty Oil and Gas hold the remaining interest.
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BPH said that any gas discovery in PEP 11 would be for the benefit of the New South Wales industry and consistent with the federal government’s policy emphasis on gas supplies for the Hunter region as a transition fuel for electric power generation and for normal domestic uses.
"The PEP11 joint venture partners have confirmed that all gas sourced from the permit will be supplied into the east coast gas market," it said.
The company received the environmental review report for the Baleen gas exploration well in PEP11 last month. The report addresses the drill target on the Baleen prospect initially announced with a total depth of 2150 m on seismic data line B4-18. Advent now intends, subject to approvals and funding, to undertake deeper drilling to also undertake an evaluation of the offshore Sydney basin for carbon sequestration (carbon capture and storage).