Thylacine – potential new gas supply to eastern Australia

abarrelfull wrote on 12 Mar 2015 14:08
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23 May 2001

Origin Energy, as Operator of offshore Otway Basin petroleum exploration permit T/30P, today announced that the Thylacine exploration well has identified a gas resource which is expected to be the largest gas discovery to date in the Otway Basin.

Wireline formation samples have now been recovered from the well at the following depths:

• 2053.8mRT, recovered gas.
• 2165.8mRT, recovered gas.
• 2236.8mRT, recovered gas.
• 2279.1mRT, recovered gas.
• 2302.4mRT, recovered gas.
• 2344.5mRT, recovered water.

Preliminary analysis of two samples indicates that the gas has an inert level of approximately 11.5%. Condensate gas ratios for the samples at 2053.8mRT, 2165.8mRT and 2302.4 mRT range from 20 to 33 barrels per million cubic feet of gas (BBLS/MMCF).

Commenting on the exciting new discovery, Origin’s General Manager, Exploration, Dr. Rob Willink said “Gas in the Thylacine field is trapped in the Waarre Sandstone, a highly productive reservoir that has also been established as gas bearing in the nearby Minerva and La Bella fields, and in a number of small onshore fields in the Port Campbell area.”

The Thylacine field is located 70 km off the Victorian coastline in some 100 m of water and has been subject to a high resolution 3D seismic survey, which provides excellent control to the mapping of the gas bearing reservoirs. Preliminary volumetric estimates indicate that the in place gas resource will probably exceed 600 billion cubic feet, and may exceed one trillion cubic feet.

Commenting on the commercial significance of the discovery, Origin’s Managing Director, Mr. Grant King, said “This is a significant discovery for Origin Energy and the industry in general as it is highly likely to provide an alternative source of gas supply which is close to the eastern Australian gas market and existing infrastructure. The discovery is particularly timely in that a number of large industrial and retail customers in southeast Australia are currently seeking to renew existing contracts, or seek gas supplies for new projects under consideration. Furthermore, this new source of gas dovetails well with our plans to construct a new gas pipeline that will link the Victorian system to Adelaide.”

After the completion of the wireline logging program, Thylacine will be cased and suspended for potential completion as a gas producer at a later date. The rig will then move to drill the Geographe prospect located only some 15 km to the north of Thylacine in adjacent exploration permit VIC/P43.

Interest holders in T/30P are:

• Origin Energy Resources Limited (Operator): 30%
• Woodside Energy Ltd: 50%
• Benaris International NV: 20%

• Thylacine – potential new gas supply to eastern Australia

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