Perth-based oil and gas services company DownUnder GeoSolutions (Dug) has seized the chance to capitalise on what may be Australia’s biggest oil find in decades by commissioning the nation’s largest seismic survey.
Perth-based Carnarvon Petroleum says it will invest about $10 million to acquire 3D and 2D seismic data, which will allow the company to expand its search for oil and gas at its Phoenix project off the Pilbara coast.
Last month’s huge oil discovery off the Pilbara coast, which could be the largest local find in 30 years, has already provided West Perth junior Carnarvon Petroleum with a significant boost to its share price.
22 Sep 2014
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