Oil and Gas News
MEO Gets More Time for Offshore Australia Permit
MEO Australia Limited has been given permission by the National Offshore Petroleum Titles Administrator to vary its work program on WA-454-P permit located offshore Australia.
The company applied to vary the Permit work program by extending by 6 months Permit Year 4 (currently ending June 8, 2015) to provide further time to undertake additional seismic reprocessing and deferring the current well commitment from Permit Year 5 to Permit Year 6.
MEO has 50% interest in the WA-454-P Joint Venture.
As a result, the proposed Breakwater-1 exploration well is expected to be drilled prior to the revised permit expiry date of December 8, 2017.
MEO’s MD & CEO, Peter Stickland, commented on the announcement:
“The variation of the Year 4 work program will allow the undertaking of additional seismic Pre-Stack Depth Migration (PSDM) reprocessing with the goal of further de-risking the Breakwater-1 well, which has been deferred until Year 6 ending in December 2017.”
Source: www.offshoreenergytoday.com
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