MEO AUSTRALIA has postponed the drilling of exploration wells on two fields in the Vulcan Sub-basin, offshore the Ashmore and Cartier Islands – off Australia’s far north west.
The company had been scheduled to drill one exploration well each in exploration permits AC/P50 and AC/P51 by 20 April 2015 under the terms of their permits.
But instead, in a move approved by the National Offshore Petroleum Titles Administrator (NOPTA) and the Territory of Ashmore and Cartier Islands Offshore Petroleum Joint Authority, MEO will continue Geotechnical studies over the permit area.
The planned studies will focus on reducing the geological risk inherent in the identified prospects, enhancing existing leads and developing new plays, MEO said.
The exploration permits expire in April 2015, allowing MEO to consider whether it will renew them.