Australia's 2020 Offshore Acreage Release
With the 2020 Offshore Acreage Release, Browse Energy will be pleased to provide support in following areas and deliver studies in a timely manner:
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Seismic Interpretation, Prospects /Leads Identification and Mapping
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Play evaluation
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Wells e-Logs correlation, Reservoir and seal analysis
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Prospect/ G&G Risking
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Dry Hole analysis
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Reserves Estimation
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Project Economics
Acreage
Bonaparte Basin
New areas cover 3 established hydrocarbon provinces:
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Petrel-Sub basin
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Troubadour Terrace
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Vulcan Sub-basin
in addition, Malita Graben areas offer untapped potential
Gas produced: 0.35 Tcf
Gas Remaining: 27.96 Tcf (2P+2C)
Oil produced: 449 MMbbl
Oil remaining: 90 MMbbl (2P+2C)
Condensate remaining: 437 MMbbl
Reference: Geoscience Australia
Browse Basin
Gas and condensate production commenced in 2018 (INPEX operated Ichthys field), followed by Shell-operated Prelude FLNGin 2019.
Discussion regarding the development of additional resources continues.
Eight areas on offer in 2020:
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Caswell Sub-basin
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Yampi shelf
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Barcoo Sub-basin
Gas produced: 0.07 Tcf
Gas Remaining: 39.75 Tcf (2P+2C)
Oil produced: 3MMbbl
Oil remaining: 37MMbbl (2P+2C)
Condensate remaining: 1173MMbbl
LPG remaining: 60 MMbbl
Reference: Geoscience Australia
Northern-Carnarvon Basin
Australia's premier hydrocarbon province since the mid-1990s, attractive to companies of all sizes.
LNG export hub, expanding infrastructure.
inboard areas offer access to multiple gas and oil-prone petroleum systems.
outboard areas offer access to world-class gas play (Upper Triassic Mungaroo deltaic system)
untapped lower-mid Triassic targets, including "deep Mungaroo" (BP's proposed Ironbark-1 in WA-359-P)
Gas produced: 30.64 Tcf
Gas Remaining: 94.89 Tcf (2P+2C)
Oil produced: 3207 MMbbl
Oil remaining: 1039 MMbbl (2P+2C)
Condensate remaining: 950 MMbbl
LPG remaining: 1 MMbbl
Reference: Geoscience Australia
Otway Basin
Gas producing province since late 1990s.
rapid suit of new discoveries since Geograph/Thyfacine in 2001
Waarre Fm (late Cretaceous, Turonian) in shipwreck through is main play.
additional discoveries (onshore) are related to early Cretaceous: Pretty Hill formation" eg Hazelgrove in Penola Trough, South Australia
Gas produced: 1.53 Tcf
Gas Remaining: 1.52 Tcf (2P+2C)
Oil produced: 28 MMbbl
Oil remaining: 7 MMbbl (2P+2C)
Condensate remaining: 22 MMbbl
LPG remaining: 25 MMbbl
Reference: Geoscience Australia
2020-acreage-release-area-maps-otway-basin
Gippsland Basin
World-class oil gas province with continued oil and gas production since the 1970s.
Wide-ranging untested exploration targets, especially in the east and along the basin flanks.
New permit awards in recent years indicate that the basin has maintained its attractiveness.
Sculpin-1 (ExxonMobil) newest exploration well drilled in Nov/Dec 2019 (2300 m water depth)
Gas produced: 10.13 Tcf
Gas Remaining: 5.06 Tcf (2P+2C)
Oil produced: 4940 MMbbl
Oil remaining: 171 MMbbl (2P+2C)
Condensate remaining: 130 MMbbl
LPG remaining: 210 MMbbl
Reference: Geoscience Australia