FEED (Front End Engineering and Design) work has commenced on what may be the next new oil and gas development off the Western Australian coast.
Carnarvon Petroleum has announced that the Joint Venture behind the exciting Roc gas/condensate discovery has instigated studies aimed at determining the most robust concept for developing the discovered hydrocarbons in the Phoenix project area.
This work includes detailed reservoir modelling at Roc in order to determine the ideal development of this structure. Based on this work, the northern extent of the Roc reservoir will be a focus to provide greater certainty on the gas and condensate resource and ultimately support the reclassification of volumes into the more robust Proved category for making a Final Investment Decision (FID).
Carnarvon Petroleum said that it and JV partner Quadrant Energy have examined all of the development scenarios being progressed include options for the tie-back of future discoveries and appraisal resources. This flexibility includes the nearby and potentially larger Dorado and Phoenix South resources should they be matured to economic resources.
Planning is already underway to undertake further drilling to boost those resources with the Phoenix South-3 expected to be spudded in 2018.
Phoenix South-3 is being designed as a redrill of the Phoenix South-2 well that discovered gas and condensate at the top of the Caley interval earlier this year. The well is to be located within close proximity to the Phoenix South-2 well.
The Phoenix South Caley structure is estimated to contain a gross mean recoverable prospective gas/condensate resource of 143 million barrels of oil equivalent (boe).
The estimated condensate-to-gas ratio (CGR) is very high which adds a great deal of value to the project.
The primary objective of the Phoenix South-3 well is to evaluate the Caley interval that the Phoenix South-2 well drilled into but was unable to drill through and evaluate.
The well will be drilled with a semi-submersible drilling rig. Quadrant Energy is in the final stages of evaluating tenders for this rig.
The JV is also planning an exploration well on the nearby Dorado Prospect.
The Dorado-1 well is targeting multiple stacked reservoirs within the Caley interval. The top sand alone is estimated to contain a gross mean recoverable prospective resource of 545 Bscf of gas and 31 million barrels of associated condensate.
Dorado-1 is scheduled to spud mid-2018. The current intention is to drill this well with a jack-up drilling rig.