ConocoPhillips Australia (COPA), a subsidiary of the U.S.-headquartered energy giant ConocoPhillips, has embarked on pre-lay operations before it begins its natural gas exploration activities in the Otway Basin off the coast of Australia, with a rig owned by Transocean, an offshore drilling giant.
As part of efforts to meet Victoria’s and the broader East Coast’s future energy demands from 2028 and structural supply gaps from 2029, the Essington-1 well is the first one on the drilling agenda, according to ConocoPhillips’ partner, 3D Energi , a Melbourne-based oil and gas exploration player whose subsidiary, TDO, has a 20% interest in both permits.
While COPA currently holds the remaining 80% stake, the firm recently inked a deal to lower its stake to 51%, with Korea National Oil Corporation (KNOC) assuming a 29% interest . 3D Energi claims that vessel pre-lay operations for anchors and mooring chains have begun for the Transocean Equinox rig ahead of drilling at Essington-1.
The rig is currently expected to spud this well in mid-October 2025, subject to weather and operational conditions, followed by Charlemont-1 between November and December 2025 in the Commonwealth waters of VIC/P79.
As all required regulatory approvals for the Otway exploration drilling program are in place, 3D Energi is carried by ConocoPhillips Australia for up to $65 million in gross total drilling costs towards the two exploration wells.
The operator booked AHTS vessels from Sea1 Offshore , formerly Siem Offshore , and Transocean’s Transocean Equinox semi-submersible drilling rig to help it find more gas with the Otway project .