ConocoPhillips Announces Another Gas Find in Australia’s Otway Basin

ConocoPhillips Announces Another Offshore Gas Find in Australia

ConocoPhillips has reported a second significant natural gas discovery off the coast of Australia, further boosting the prospects for exploration in the Otway Basin. This latest find highlights the region’s increasing role in addressing the tightening gas supply on Australia’s east coast.

The Charlemont-1 exploration well, situated offshore Victoria, has successfully yielded a gas sample, confirming the presence of hydrocarbons along the Charlemont Trend. The well is part of permit VIC/P79, operated by ConocoPhillips in partnership with Korea National Oil Corporation and Australian firm 3D Energi.

According to 3D Energi, the well encountered gas within the Waarre C sandstone. Wireline logging and modular formation dynamics testing provided direct evidence of hydrocarbons, an outcome that was not anticipated before drilling began. Early analysis of the gas composition suggests a carbon dioxide content of about 16 mol%, which is similar to the nearby La Bella gas field, located roughly seven kilometers to the east.

Additionally, the Waarre A sandstone showed higher gas readings and increased resistivity, indicating a likely presence of hydrocarbons. However, further detailed analysis is needed to determine the quantity and commercial viability of these resources.

The Charlemont-1 well was drilled to assess the down-dip portion of the Charlemont Trend, a chain of prospects extending toward the La Bella discovery. The results confirm the presence of gas at both ends of the trend, reducing exploration risk for several other prospects in the area that display similar seismic characteristics.

This new discovery follows the earlier Essington gas find and marks the second success under the Otway Exploration Drilling Program. Together, these results strengthen the case for the Charlemont cluster and demonstrate the value of exploring near existing offshore infrastructure, with new finds located close to established gas production and processing facilities.

Noel Newell, executive chairman of 3D Energi, commented, “Phase 1 of the Otway Exploration Drilling Program has uncovered valuable new gas resources near current infrastructure, supporting the Australian domestic market.” He noted that the discovery provides greater flexibility for future development, pending further technical and commercial assessment.

Charlemont-1 is positioned approximately 55 kilometers off the coast of Victoria in waters about 110 meters deep. ConocoPhillips holds a 51% operating stake in the permit, with Korea National Oil Corporation owning 29% and 3D Energi holding 20%. Decisions regarding additional drilling have yet to be made.