George Cash

George Cash

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    Four petroleum exploration permits on North West Shelf awarded

    3/01/1995 12:00 AM
     

    3/1/95

     

    Eleven companies representing three consortiums have been awarded four highly prospective petroleum exploration permits on the North West Shelf.

     

    The areas lie in Commonwealth waters in the vicinity of previous oil and gas discoveries offshore from Karratha.

     

    In a joint statement, Mines Minister George Cash and the Federal Resources Minister David Beddall announced the following:

     

    ·       Area W94-1, which is located 10kms north-east of the Montebello Islands, has been awarded to Ampolex Limited, Hadson Beagle Pty Ltd, SAGASCO Resources Limited and Hardy Petroleum Limited as Permit WA-256-P on the basis of a six-year program of one well and 1,713kms of seismic acquisition at an estimated cost of $4.92 million.

     

    ·       Area W94-2, which is located 50kms north-east of the Montebellos, has been awarded to Ampolex Limited, Hadson Beagle Pty Ltd, SAGASCO Resources Limited and Hardy Petroleum Limited as Permit WA-257-P on the basis of a six-year program of three wells and 823kms of seismic acquisition at an estimated cost of $11.57 million.

     

    ·       Area W94-3, which is located 60kms north-east of the Montebellos,  has been awarded to Mount Isa Mines Limited, LL&E Australia (Offshore) Pty Limited and Japan Energy Corporation as Permit WA-258-P on the basis of a six-year program of two wells and 4,300kms of seismic acquisition at an estimated cost of $19.61 million.

     

    ·       Area W94-4, which is located 75kms north of Dampier, has been awarded to Minora Energy Ltd, Seafield Resources plc, GFE Resources Ltd and Pan Pacific Petroleum NL as Permit WA-259-P on the basis of a six-year program of three wells and 970kms of seismic acquisition at an estimated cost of $10.12 million.

     

    Mr Cash said 12 bids had been received for the four permits awarded, and that the successful companies had given an undertaking to spend a total of more than $46 million exploring the four areas over the next six years.

     

    Media contact:  Mark Thompson 222 9595