Carnarvon Power Restricted mentioned it has accomplished its seismic reprocessing undertaking within the Bedout Sub-basin offshore Australia.
In collaboration with its Bedout three way partnership companions, Carnarvon accomplished the Bedout Mega Merge undertaking, “a significant development in subsurface imaging and exploration prospectivity definition” throughout the world, the corporate mentioned in a information launch.
The undertaking integrates 10 seismic surveys, masking 5884 sq. miles (15,240 sq. kilometers) and offers greater than 80 % seamless protection of the Bedout JV acreage, the corporate mentioned.
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The information was reprocessed and merged utilizing trendy geophysical methods by DUG Know-how, leading to a unified, high-resolution dataset, in response to the discharge.
The dataset enhances the definition of the Bedout potential useful resource base and related geological danger profile. The three way partnership is utilizing the dataset for steerage in figuring out areas with excessive exploration potential, the corporate mentioned.
Insights gained from the dataset will immediately inform collection of the 2026 exploration goal and information the longer term Bedout exploration technique, Carnarvon mentioned.
The three way partnership continues to arrange for the submission of the multi-well drilling environmental plan required for future exploration actions, with drilling deliberate to start within the third quarter of 2026, the corporate mentioned.
The second section of the undertaking will apply quantitative interpretation and seismic inversion methods to refine additional subsurface predictions, significantly concerning rock lithology for reservoir and seal characterization. The continued section will help high-grading of prospects for future drilling, in response to the discharge.
Carnarvon CEO Philip Huizenga mentioned, “The not too long ago accomplished Mega Merge Venture has offered our technical crew an unparalleled, coherent view of the Bedout Sub-basin’s sub-surface, encompassing our discoveries, recognized prospects and potential new targets”.
“The standard and readability of the merged dataset allows Carnarvon to confidently help with finalizing our drilling goal for the proposed 2026 drilling marketing campaign with a give attention to maximizing useful resource quantity upside,” Huizenga continued.
“The exploration potential within the Bedout Sub-basin is unrivalled in Australia, and Carnarvon may be very excited to proceed this journey. I stay up for the graduation of drilling, which is anticipated to be within the third quarter of 2026,” he concluded.
In January, one other of Carnarvon’s joint ventures determined in opposition to transferring ahead with the Dorado section 1 liquids improvement offshore Western Australia.
The Dorado three way partnership didn’t push by with buying the floating manufacturing storage and offloading (FPSO) vessel that had been recognized as an choice for the undertaking. Santos Restricted, the operator of the asset, has additionally determined to not proceed with front-end engineering and design (FEED), Carnarvon mentioned in an earlier assertion.
With the deferral of FEED entry, the earlier goal for a last funding resolution in 2025 was additionally postponed, in response to the assertion.
The Dorado three way partnership consists of Santos with an 80 % stake, Carnarvon with 10 %, and CPC Company subsidiary OPIC Australia Pty Ltd with 10 %.
Carnarvon not too long ago entered right into a subscription settlement underneath which it could make investments as much as $58.9 million (AUD 89 million) to accumulate as much as a 19.9 % curiosity in Strike Power Restricted at AUD 0.12 per share.
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