Advent Energy Issues LOI for Drilling Services Contract

Source: www.gulfoilandgas.com 9/7/2021, Location: Not categorized

BHP Energy has advised that a Letter of Intent has been issued by Advent Energy, through its’ subsidiary Asset Energy, to Aztech Well Construction services for the provision of Drilling Project Management services for the upcoming Seablue-1 exploration well in PEP 11.

The well is planned to be drilled in 125m of water approx. 26km offshore and 30km SSE of the City of Newcastle. The drilling of the well is subject to regulatory approvals and is expected to take around 40 days to reach total depth.

The well has two objectives; (i) a gas target and (ii) evaluation for Carbon Capture Storage, subject to funding. When the well has reached Total Depth and has been fully evaluated, it will be plugged and abandoned as per regulatory requirements, in line with pre-drill planning as an exploration well, the well head and associated equipment will be removed from the seabed.

PEP11 interests are: Advent Energy Ltd 85 % Bounty Oil and Gas 15%.


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