The Ironbark prospect is located in exploration permit WA-359-P, which is situated in the Carnarvon Basin offshore Western Australia
British oil and gas company, BP has secured environment plan approval from the Australian offshore regulator National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) for the Ironbark-1 exploration well offshore Western Australia (WA).
The Ironbark prospect is located in exploration permit WA-359-P, which is situated in the Carnarvon Basin, about 50km from the North West Shelf (NWS) LNG infrastructure.
BP operates the permit with 42.5% stake while other partners include Cue Energy (21.5%), Beach Energy (21%), and New Zealand Oil & Gas (15%).
Last year, Cue Exploration announced the formation of a joint venture (JV) with partner companies to undertake drilling operations at the Ironbark-1 exploration well.
The move follows the conclusion of all agreements between Cue Exploration and BP Developments Australia, Beach Energy and New Zealand Oil & Gas.
The partners are planning to commence drilling activities at the Ironbark-1 well in October 2020.
Ocean Apex drilling rig to be deployed at Ironbark-1 exploration well
Diamond Offshore-owned Ocean Apex drilling rig s planned to be used to drill the well to a depth of 5,500m.
Cue Energy CEO Matthew Boyall said: “Cue Energy welcomes the approval of the Ironbark Exploration Drilling Environment Plan and is excited with the continuing progress toward the drilling of the Ironbark-1 well, which is expected to spud in about three months.
“Cue holds a significant 21.5% participating interest in the world-class Ironbark gas prospect, which, if successful, could be company changing for Cue and deliver environmental and economic benefits to Australia and the region.”