Highlights
- Transocean Equinox drilling rig is mobilising to Australia for a five-well drilling contract before
mobilising to the Otway. The rig is currently expected to arrive in the Otway first quarter of 2025.
- ConocoPhillips Australia, as the Operator of the Joint Venture has previously signed a contract for
(2) firm wells and up to 5 option wells.
- Timing of exploratory drilling is dependent on regulatory approvals and rig availability.
Transocean Equinox drilling rig is mobilising to Australia
3D Energi Limited (the “Company”; ASX: TDO) is pleased to announce that the Transocean Equinox semisubmersible drilling rig (Figure 1) has set sail from Singapore and is now mobilising to Australia, where it has a
five-well drilling contract on the Northwest Shelf. After completion of that campaign, the rig will mobilise for a
16-well drilling campaign for a consortium of operators that includes 2 exploration wells for the Joint Venture.
3D Energi holds a 20% participating interest in T/49P and VIC/P79 exploration permits (Figure 2).
The rig is currently expected to mobilise in the first quarter of 2025 to the Otway Basin for a 16-well drilling
campaign with a consortium of four operators that includes ConocoPhillips Australia, on behalf of the Joint
Venture. The consortium of operators have a number of option wells, which if fully exercised, could keep the rig
in Australia into 2028. Timing for exploration drilling is dependent on regulatory approval and rig availability.
Otway Exploration Drilling Program
The Joint Venture has previously signed a two-well drilling contract as part of a 2025 exploration drilling program,
pending regulatory approval, with up to 5 option wells (TDO ASX release 12 July 2023). The drilling Environmental
Plan (EP) is currently under assessment with the regulator, NOPSEMA (National Offshore Petroleum Safety and
Environmental Management Authority). The EP proposes seabed surveys and the drilling of up to six exploration
wells in exploration permits VIC/P79 and T/49P, located in Commonwealth waters offshore of Victoria and King
Island, Tasmania (Figure 2).
ConocoPhillips Australia SH2 Pty Ltd will carry one exploration well for up to US$35 million in VIC/P79 (TDO ASX
release 16 March 2023) and ConocoPhillips Australia SH1 Pty Ltd will carry one exploration well for up to US$30
million in T/49P (TDO ASX release 11 June 2020).
This announcement is authorised for release by the Board of Directors of 3D Energi Limited.
