CHINA National Offshore Oil (CNOOC) is preparing to commence its first major drilling program in Australia.
According to its submission to the federal department of environment, CNOOC plans to drill three wells in the northern Bonaparte Basin, 500km north of Wyndham and 40km north west of the Bayu-Undan LNG project.
According to the company, it is targeted to be a 110 day program due to commence later this quarter, pending final environmental approval.
The Chinese group was awarded the prospective WA-406-P permit, which abuts the Joint Development Area with East Timor, in late 2007 after outbidding two rival explorers with a two-stage exploration program worth more than $160 million.
The guaranteed first stage program, worth $80.8 million, will include up to five wells and 400 square kilometres in 3-D seismic work.
Depending on the results of the initial work, CNOOC will undertake a secondary program of five wells and additional 3-D seismic.
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