This article is 20 years old. Images might not display.
Under the agreement, Stanwell will fully fund the drilling of three wells but Sunshine Gas will retain 100% of the hydrocarbon rights.
The wells will go towards fulfilling Sunshine’s work obligations in the northern Bowen Basin permit. They are due to spud in the second quarter of 2006.
The evaluation will comprise a test to determine whether the deeply buried rocks within ATP 722P are conducive for storage of CO2.
“Storing greenhouse gases underground is considered to be a safe way to remove them from the earth’s surface and therefore assisting with the minimisation of global warming,” Sunshine Gas said.
