Central Petroleum Ltd., along with its joint venture partners, is set to drill two new development wells at the Mereenie oil and gas field located in the Amadeus Basin, Northern Territory, Australia.
This investment is aimed at unlocking additional resources to support the east coast gas market, following the signing of gas sales agreements with the Northern Territory Government (NTG GSA), as announced by the company on August 15.
The new Mereenie development wells are expected to boost the field’s production capacity, increasing it from the current 27 TJ/d to over 30 TJ/d. Over their operational lifetime, these wells are projected to produce at least 25 PJ of gas. The gas from these wells will be sold under the newly signed NTG GSA, with an option to expand sales by up to 6 TJ/d once the wells are completed.
Each well is anticipated to take approximately 30 days to drill and will target the crest of the Pacoota 3 (P3) reservoir at depths of around 1,500 meters. This approach is designed to optimize productivity and gas recovery from the field.
As the operator, Central Petroleum has contracted Ventia Australia Pty Ltd. to utilize Rig 101 for drilling the two new Mereenie wells, named West Mereenie 29 and 30. Drilling is scheduled to commence by the end of the year, with gas production expected to begin in the first half of 2025.
