ConocoPhillips has discovered natural gas in the Otway Basin off the coast of Australia after it began exploration activities in the region in 2021.
The discovery is 53 kilometres from Port Campbell in Victoria.
The company detected the presence of natural gas in two target reservoirs, Waarre A and Waarre C.
Preliminary estimates place the primary Waarre A target reservoir as a 62.6 metre gross hydrocarbon column. The secondary Waarre C target shows a further 33.2 metre gross hydrocarbon column as best estimates.
Jan-Arne Johansen, President, ConocoPhillips Australia said: “The Essington-1 well is the first discovery in the Otway since 2021 and is a promising start to ConocoPhillips’ exploration activities in the region.
“The initial results are encouraging, and we look forward to continuing drilling our second exploration well in December.
“Natural gas is key to providing reliable and affordable energy to households, businesses and industry as Australia seeks to transition to net zero. ConocoPhillips Australia seeks to be part of the solution.”
ConocoPhillips will continue operations at the Essington-1 well and will move to the second exploration well once Essington-1 is plugged and abandoned. Operations are still underway at the discovery well and are likely to finish at the end of November.
A second well in VIC/P79 (Charlemont-1) is expected to commence in December, and additional wells may be considered in the future under the accepted Environmental Plan.
Further work will be conducted to determine potential flow rates, the reservoir’s ultimate resource recovery and the commercial viability for potential development plans.
ConocoPhillips Australia is the operator of the Otway Exploration Drilling Program and holds a 51 per cent interest in the relevant joint venture, together with Korea National Oil Corporation and 3D Energi.
