TAP OIL has been awarded two blocks in the North West Shelf under the 2014 Offshore Petroleum Exploration Acreage Release, the company announced in March.
The company won block W14-07, located on the Rankin platform, and block W14-16, east of the Alpha Arch on the western flank of the Barrow sub-basin, in the 2014 release, for which bids closed in October 2014.
W14-07, now Petroleum Exploration Permit WA-515-P, sits in water depths ranging from less than 100 metres to 400 metres and covers an area of about 48,500 hectares.
The permit lies between the Wheatstone gas field to the west and the Goodwyn/Perseus gas fields to the east.
W14-16, now Petroleum Exploration Permit WA-516-P, is in water depths of between 50 metres to 200 metres and covers an area of about 16,000 hectares.
The permit lies between the Griffin, Chinook/Scindian fields and the Woollybutt oilfield and is adjacent to other Tap held acreage.
Tap will spend about $800,000 each on a three year work program over both permit areas running to 5 March 2018, with the majority of the funds to be spent from 2016 onwards.
These studies will comprise of reprocessing open file 3D seismic or licensing existing multi-client reprocessed 3D data, quantitative interpretation studies and geological and geophysical studies.
An optional secondary work program comprises 3D seismic acquisition in Year four and a well in Year six, the company said.