The spud date has been delayed due to extended operations by the previous operator. Possible further minor delays may still occur.
Vic/P42 is being explored in a 50/50 partnership with Japanese major Inpex. Zane Grey will be drilled using the Ocean Patriot Semi-submersible unit.
BSOC estimates the Zane Grey prospect to contain unrisked prospective reserves of 134 million barrels of recoverable oil.
The Zane Grey prospect lies just 7km west of Australia’s largest oil field, the 1.2 billion barrel Kingfish field, and is mapped to partially extend into the Kingfish production licence area.
“It is understood that the Kingfish production facilities are under-utilised suggesting that there could be, subject to commercial negotiation and agreement, an opportunity to connect any Zane Grey discovery to this infrastructure,” BSOC said in a statement.
“But stand-alone development options would likely also be considered for any Zane Grey discovery.”
Zane Grey is a faulted anticlinal structure up-dip of Nannygai-1, a well drilled in 1972 on older 2D seismic data, which encountered good oil shows and an interpreted six metres of live oil in intra-Latrobe Group sandstones, according to BSOC.
The company’s evaluation of its 2002 3D seismic data indicated that Nannygai-1 may have drilled on the northern closure limit at intra-Latrobe Group levels and it is interpreted that the six metres of oil in the well could be part of a more significant accumulation over Zane Grey.