The Cooper Energy and Mitsui E & P joint venture has made a gas field discovery in the Annie-1 exploration well in the Otway Basin offshore Victoria.
Annie is the first gas discovery by an offshore well in the Otway Basin in 11 years, with the most recent being the Netherby gas field in 2008.
The well reached total depth of 2442 metres measured depth rotary table (MDRT).
Within the Annie-1 borehole, the Waarre C and Waarre A Formation sandstones productive in the Otway Basin were penetrated.
The Waarre C primary target was encountered at 2241 metres MDRT, comprising a gross gas column of 70 metres with gas-on-rock at its base. The net pay thickness is 62 metres.
The deeper Waarre A sandstone was encountered at 2341 metres MDRT and was water wet.
Cooper managing director David Maxwell described the Annie gas discovery as a solid and promising result from the first well in the program.
“Annie-1 is the first offshore gas exploration well Cooper Energy has drilled in Australia and the first of an $80 million drill campaign by the JV this year to find new gas supply for south-east Australia,” Maxwell said
“We are very pleased with the success at Annie. It is very encouraging for future exploration in the offshore Otway Basin and for our strategy to build gas production around the hub of the existing Minerva gas plant.”
Cooper has also been awarded the offshore exploration permit VIC/P75 in the Gippsland Basin offshore Victoria.
Previous exploration in the area was impaired by significant depth conversion issues related to velocity complexities above reservoir targets. However, recent advances in 3D seismic reprocessing have provided greater clarity for the mapping of subsurface structures.
The permit has a six-year term, of which the first three years is a guaranteed work program consisting of seismic reprocessing and geological/geophysical studies.