Australia: WHL Energy Inks Contract with CGG for La Bella 3D Seismic Survey

Australian energy company WHL Energy Limited (“WHL Energy” or “the Company”) announces that it has signed a contract with CGG Services SA for the acquisition of the La Bella 3D seismic survey. The survey will utilise CGGs’ Viking II vessel to acquire data with state-of-the-art BroadseisTM broad band seismic acquisition technology.

The survey will commence in mid-November and take approximately one month. An initial processed data volume is expected to be available in mid-February 2014, with the final processed volume targeted for completion in May 2014. The survey area is located approximately 35 kilometres off the coast of Port Campbell in the Otway Basin, offshore Victoria.

WHL Energy will operate the survey on behalf of the VIC/P67 Joint Venture which consists of WHL Energy 40% and AWE 60%. AWE will fund 75% the costs of the acquisition and processing for the 3D seismic survey up to a cost of US$12m (US$9m being AWE’s share) to earn 60% equity, after which each Joint Venture partner will pay its equity share. TAP Oil will pay for 20% of the cost of the La Bella 3D seismic survey, up to a total of US$2.95m to have the option to acquire 10% equity in Vic/P67.

Managing Director David Rowbottam said: “WHL Energy is pleased to have finalised the contracting of a seismic vessel for the La Bella 3D seismic survey and look forward to receiving the data. The data from the 3D survey will assist with confirmation and definition of the La Bella gas and condensate resource and progress the development planning and commercialisation of the resource.”

“The survey will also further define several exploration targets in the La Bella area that will be considered for drilling in early 2015. The acquisition of this seismic survey is an important milestone in the La Bella project timeline as the Company and Joint Venture continues to work towards bringing the project to commercial fruition.”

Press Release, October 09, 2013; Image: CGG

 

 

Share this article

Follow Subsea World News

Events>

<< May 2017 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

OGA 2017

OGA 2017 is the most beneficial way to meet, discuss and acquire the latest in the Oil & Gas industry! It is also;…

read more >

IMCA ROV SEMINAR

This seminar is designed to assist IMCA members in dealing with these, with a programme of technical and operational topics affecting…

read more >

Offshore Wind Energy 2017

In 2017, EWEA and RenewableUK will join forces to bring you the greatest conference and exhibition Europe has ever known in the history…

read more >

UTC 2017

The subsea industry has, as all other parts of the oil & gas industry, been seriously rattled by the most severe downturn in the hydrocarbon energy era. However, the realization of what hit us and actions to be taken to sustain a healthy and profitable future is still on-going – unfortunately with thousands of colleagues paying the price by losing their job as one of the most severe consequences. At this time, there are signs that we have reached bottom in terms of most industry indicators, but few experts expect a sharp recovery. Many seem to believe that a slow recovery is what the industry needs in order to avoid an unsustainable capacity build-up, as seen in the period after the financial crisis. Considering the uncertainty of what the future will bring, this year’s UTC Program Committee have decided to challenge all of us to present ideas, experiences, technological innovations, business models and execution models for how to shape our subsea future and explain how and why subsea is the future.
UTC welcomes abstracts based on the topics listed below. If selected, please consider writing a paper in addition to the UTC presentation. From 2017, UTC papers will be published in an international database.

More info

read more >