3D Energi Limited is pleased to announce that seabed surveys are scheduled to
commence today ahead of the upcoming Otway Exploration Drilling Program (OEDP). ConocoPhillips
Australia (COPA) are Joint Venturers (and operators) of VIC/P79 and T/49P exploration permits in offshore
Commonwealth waters of the Otway Basin. TDO retains a 20% participating interest in both permits.
Highlights
- Seabed surveys are scheduled to commence in Commonwealth waters in April 2025.
- The surveys are expected to take four weeks to complete, vessel availability and ocean
conditions permitting.
- The Environment Plan for the site surveys and Otway Exploration Drilling Program was
accepted by Australia’s independent regulator, NOPSEMA, in February 2025.
- The Otway Exploration Drilling Program is scheduled to commence in 2025.
- The final selection of well locations is yet to be confirmed.
- TDO is carried by COPA for up to US$65M in gross drilling costs towards two firm exploration
wells and seabed surveys are included in this carry.
About the Otway Exploration Drilling Program (OEDP)
The Joint Venture is undertaking exploration activities for natural gas in the Otway Basin (offshore Victoria) near
existing natural gas wells. The drilling program aims to identify viable natural gas reserves to supply the East
Coast market and support Australia’s current and future energy needs, ensuring reliable power generation,
industrial processes, and residential heating.
Natural gas has been safely developed in the region for many decades and is a vital part of Australia’s energy
future. The activity includes a range of environmental protection control measures and additional initiatives to
mitigate impacts to the marine environment to levels that are as low as reasonably practicable and acceptable.
The Otway Exploration Drilling Program will be completed in two (2) phases. Two (2) firm wells have been
contracted for Phase 1 (2025), followed by up to four (4) optional wells in Phase 2. The contracted semisubmersible drilling rig, Transocean Equinox, is currently mobilising to the Otway Basin.
Seabed surveys are critical to the Otway Exploration Drilling Program
Seabed surveys are scheduled to commence in April 2025, ahead of the upcoming Otway Exploration Drilling
Program (OEDP). Seabed surveys are expected to take four weeks to complete, vessel availability and ocean
conditions permitting.
The Environment Plan (EP) for the OEDP was accepted by Australia’s independent regulator, the National
Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) in late February 2025 (refer
to ASX release 3 March 2025). The EP allows for a maximum of 9 seabed surveys and the drilling of up to 6
exploration wells.
TDO is carried by COPA for up to US$65M in gross drilling costs towards the two (2) firm exploration wells (Phase
1) and seabed surveys are included in this carry.
Executive Chairman’s Comments
Mr Noel Newell, Executive Chairman of 3D Energi, said today “With regulatory approvals in place and seabed
survey operations set to commence in April, this marks another key step in the exploration program as we
continue to advance our efforts to unlock the gas potential of this highly prospective offshore permit. The Joint
Venture is focused on progressing this program efficiently while maintaining the highest environmental and
safety standards”.
This announcement is authorised for release by the Board of Directors of 3D Energi Limited.