Finder Exploration was given a new permit to explore in the Vulcan Sub-basin for one year beginning June 23, 2016. The area for exploration is roughly 335 sq. km, 650 km northwest of the Western Australian coast at a depth of 125 – 340m.
The company reports the permit is in close proximity to six oil and gas discoveries: one depleted, two yet to be developed and a gas complex. Additionally, four petroleum systems are identified within. Significant prospects are the Gem Prospect and the Douglas updip with a possible Tenacious oil field extension.
Onnia 3D seismic survey fully covers the permit, which includes adjacent offset well ties from the Oliver, Tenacious and Audacious fields to deliver full coverage.
Article written by HEI contributor Marcela Abarca.