Woodside Oil find

WOODSIDE Energy has found oil north west of Exmouth in a 50-50 joint venture with BHP Billiton.

The discovery, in the Sybarrow structure in WA 225P, is near Woodside’s nearby Laverda, Enfield and Vincent discoveries.

Plans are under way for a sidetrack well after Sybarrow 1 intersected a 23-metre gross oil column.

Woodside has also recently increased its potential stake in Northern Territory gas markets by boosting its equity in three Bonaparte Gulf gas permits, for which it is the operator.

Woodside has doubled its stake in two permits, one including the Blacktip gas field, and has boosted its holding by 10 per cent in another.

The acquisitions, from Shell, have given Woodside 70 per cent of both WA 279P and NT/P57, and 66.67 per cent of WA 313P.

Shell has retained 10 per cent of NT/P57, but has now relinquished all interest in the other two permits.

Agip is the complementary partner in all three permits. Woodside, which is currently evaluating Blacktip development options, is actively pursuing NT gas markets.


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