Australian independent oil and gas company, Melbana Energy, said it has completed the 3D seismic survey of the Beehive prospect in the Joseph Bonaparte Gulf, 225 kilometers southwest of Darwin.
The company noted that during the planning of the Beehive 3D seismic survey, a new lead was identified and the survey area was extended by approximately 100 square kilometers to provide coverage over the newly identified lead – Egret – that is partially within the boundary of WA-488-P.
The extension of the survey area is within the approved scope and operational envelope of the Beehive 3D seismic survey.
The Beehive 3D seismic survey, including the extension over the Egret lead, is fully funded by Santos and Total.
“Beehive is a new play type in this basin and has recently been assessed by Independent Expert McDaniel & Associates (Canada) to contain prospective resources of up to 1.6 billion barrels of oil equivalent,” Melbana’s CEO Robert Zammit said.
The survey was operated by Santos under the operations services agreement and is fully funded by Total and Santos. The Beehive 3D seismic survey acquisition area was approximately 600 square kilometers.
Total and Santos have an option to acquire a direct 80 percent participating interest in the permit in return for fully funding the costs of all activities until completion of the first well in the WA-488-P permit.
Beehive is located close to several existing facilities including the Inpex-led Ichthys LNG project and Blacktip field and pipeline offering several options for future gas monetization.
The Beehive prospect is potentially the largest undrilled hydrocarbon prospect in Australia, Melbana said.