OIL

Woodside and Paladin spud Laminaria expansion well

WOODSIDE Energy last week started drilling the Petalonia North-1 well in exploration permit AC/P8 in the Bonaparte Basin, about 10 kilometres south-west of Laminaria and 570km north-west of Darwin.

Woodside and Paladin spud Laminaria expansion well

By yesterday morning the Atwood Eagle rig had reached 2491 metres depth below the rotary table in water 342m deep.

The work follows Woodside and Paladin Oil and Gas (Australia) buying Shell’s Laminana-Corallina oil field interests in March.

Paladin is acquiring a 33.33% interest in AC/P8, subject to regulatory approval, while operator Woodside holds the remainder in the joint venture.

Woodside was looking for a partner enthusiastic about infill potential at Laminaria-Corallina earlier this year. Paladin bought BHP Billiton’s stake in the oil fields and the Northern Endeavour floating production, storage and offloading vessel, for $150 million in January.

With the agreements settled, Woodside owns 66.67% of the Corallina and the Northern Endeavour, as well as a 59.9% interest in the Laminaria.

Paladin holds the remaining 33.3% of both the Corallina and Northern Endeavour FPSO, and the remaining 41.1% of Laminaria.

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