Neptune Starts Seismic at Oz Petrel Field
UK player Neptune Energy has started 3D seismic surveys at the Petrel gas field in Australia’s offshore Bonaparte basin, it said on December 4, noting the work marked the first “substantial” investment at the project in five years.
Neptune has entered into a non-exclusive data licensing agreement with seismic vessel operator Polarcus for the work, it said in a press release. Polarcus has secured environmental approval for the surveys from authorities. Its Polarcus Asima vessel began the campaign on November 30, which will run until late January and cover 2,900 km2 of territory. Data will be available in the fourth quarter of 2020.
Neptune holds a 54% stake in Petrel, while partners Santos and Beach Energy have shares of 40.25% and 5.75% respectively. The group are weighing options for developing the field and others nearby, with one involving the transport of gas via pipeline to Darwin, where it could be exported in the form of LNG or sold domestically.