The first significant investment in the Petrel field in five years has begun in the Bonaparte Basin with Polarcus commencing a 3D seismic survey in the area on behalf of Neptune Energy.
Neptune said the survey would expand the area of seismic data the company holds and significantly increase the quality and breadth of data, for the company and its partners in the Petrel JV to plan a path forward.
Neptune Energy Australia Managing Director, Janet Hann, said: “The Bonaparte Basin presents exciting growth opportunities for Neptune, and Petrel may play a significant role in our future aspirations for the area. We look forward to working closely with our partners as we deepen our knowledge of Petrel in order to define the potential for further development.”
The Polarcus Asima vessel began the campaign on November 30 and will continue into late January 2020, subject to operational conditions, covering 2,900km2 of territory. Data from the survey is expected to be available in the fourth quarter of 2020.
Neptune holds 54% of the project and partners Santos (40.25%) and Beach Energy (5.75%) are investing in new broadband technology over an expanded area in order to get a better understanding of the significant potential resources that Petrel holds.