Otway Basin - Truenewj

Victoria opens first oil exploration tenders since 2018

amefika6 months ago03 mins

The Australian state of Victoria launched its first oil exploration tenders since 2018 in response to looming gas supply risks caused by declining production at existing fields. Tender applications have been called for two areas: Area VIC/25-1 – off the coast of the Otway Basin (Victorian waters) and Area VIC/25-2 – off the coast of…

ConocoPhillips makes new gas discovery in Australia’s Otway Basin

amefika7 months ago02 mins

ConocoPhillips has made a natural gas discovery in the Otway Basin off the Australian coast, the company said today, adding that the exploited reserves and their commercial viability have not yet been estimated. “The Essington-1 well is the first discovery in Otway since 2021 and is a promising start to ConocoPhillips’ exploration activities in the…