Royal Dutch Shell PLC has acquired three exploration permits in the Exmouth basin off the coast of North West Australia
Royal Dutch Shell PLC has acquired three exploration permits in the Exmouth basin off the coast of North West Australia.
Shell will operate the WA-384-P, WA-385-P and WA-394-P permits acquired from Octanex NL and Strata Resources NL.
Chris Gunner, chief operating officer for Shell Development Australia, said the acquisition was consistent with the Anglo-Dutch oil group's aim to grow its Australian gas portfolio.
Shell plans to acquire seismic data in the areas in 2008 and 2009 once the deal is approved by government authorities. The two exploration permits, WA-384-P and WA-385-P, were granted to Octanex and Strata Resources in August 2006, and carry a work commitment of 1,800 kilometres (1,118 miles) of 2-D seismic survey within the first three years. The WA-394-P permit was granted to the partners in February 2007 under a proposed work programme that includes a a new 2-D seismic survey of 375 kilometres (233 miles).
Over the past 24 months, Shell has invested in nine new permit areas, two farm-ins and the purchase of rights to Crux gas, and the North West Shelf (NWS) LNG Train 5 expansion, Energycurrent.com reports.
