CGG bags 3D seismic contract offshore Western Australia

CGG bags 3D seismic contract offshore Western Australia

PERTH, Western Australia -- Neon Energy has awarded a contract to CGG Services for licensing of 200 sq km of new broadband 3D seismic data over the WA-503-P offshore petroleum exploration permit.

Block WA-503-P is located offshore Western Australia, within the Dampier sub-basin, and is wholly operated by Neon Energy. It  is situated inboard of the giant Northwest Shelf gas field complex and on trend with numerous oil and gas discoveries, including the Legendre and Hurricane fields. Water depths within the block range from 50 m to 70 m.

The company has identified a number of additional exploration leads based on existing 3D seismic data, all of which will be targeted by the new broadband 3D seismic program. The program is expected to be completed by May 2015.

Block WA-503-P was awarded with a six-year term. The initial three-year primary term includes the commitment to license a minimum 80 sq km of new broadband 3D seismic data, and complete various geological and geophysical studies. The secondary term is optional, and includes an associated commitment to drill one exploration well.

The value of the contract with CGG is approximately $1.3 million.