9 December 2014

Origin confirms new gas discovery offshore Victoria

Origin Energy (Origin) has confirmed its Speculant-1 exploration well discovered potentially commercial quantities of gas in Waarre Formation reservoirs in the Otway Basin, offshore Victoria, within the Origin operated VIC/L1(v) permit.

The lift was completed safely during a planned maintenance shutdown from 24 November 2014 by the specialist heavy lift vessel, the Sapura 3000, with the vessel released Friday 12 December 2014. BassGas is due to recommence production in late December.

Origin Chief Executive Officer Upstream, Mr Paul Zealand said, "We are pleased to have safely completed the module lift, which is an important first step in Stage 2 of the BassGas MLE project aiming to extend the production life of the Yolla field. The team is now focussed on preparations for drilling the Yolla-5 and Yolla-6 wells, including the arrival of the drill rig, the West Telesto, with the drilling operation expected to begin in the New Year."

Once the Yolla-5 and Yolla-6 wells are drilled and tied in, they will extend production from the Yolla field through the BassGas production facility at Lang Lang, Victoria.

The Yolla Platform is located in Bass Strait, approximately 140km off shore from Kilcunda, Victoria.

BassGas Joint Venture

Origin Energy Resources Limited (Operator)*: 42.50%
AWE Limited (through subsidiaries): 35.00%
Prize Petroleum Company Limited: 11.25%
Toyota Tsusho Gas E&P Trefoil Limited: 
(i/o Toyota Tsusho Gas E&P Trefoil Limited)
11.25%

* Through its wholly owned subsidiaries


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