Polarcus has completed the Capreolus project, described as the largest single 3D seismic survey to be undertaken offshore Australia.
The basin-wide broadband 3D seismic survey covers two underexplored hydrocarbon provinces with largely untested oil plays in the Beagle sub-basin and the Bedout sub-basin, including the recent Phoenix South oil discovery.
The discovery well opens up the potential for a new oil province across an area historically only considered prospective for gas.
Several leads and prospects have been identified for multi-phase drilling programs to be undertaken over the next two years, starting with the Roc-1 well this month.
Stephen Doyle, SVP multi-client, Polarcus, said: “This is a milestone achievement for Polarcus completing its first multi-client survey in Australia, with high prefunding supported by eight oil companies.
“The resulting high-fold broadband 3D data has delivered a step change in data quality and has the potential to help the industry find many more large oil discoveries in this underexplored frontier.”