Transocean Equinox arrives ahead of Otway Exploration Drilling Program
The Transocean Equinox has arrived in the Otway Basin ahead of the upcoming Otway Exploration Drilling Program, which aims to identify viable natural gas reserves to supply the East Coast market and support Australia’s current and future energy needs. The OEDP will be completed in two phases. Two firm wells have been contracted for Phase 1 (2025), followed by up to four optional wells in Phase 2 (2026-2028).
The harsh weather semi-submersible drilling rig is contracted for a minimum 16-well drilling campaign by through a consortium of four operators, and will commence its OEDP Phase 1 drilling campaign in Q3 2025.
The Environment Plan (EP) for the OEDP proposes the drilling of up to six exploration wells in water depths ranging from 53-200 m across the VIC/P79 and T/49P exploration permits, located in Commonwealth waters offshore Victoria and Tasmania.
The final selection of well locations is yet to be confirmed pending the completion of subsurface 3D seismic
interpretation studies across VIC/P79 and T/49P exploration permits. Then well locations will be assigned to the firm phase (Phase 1) of the program and the optional phase (Phase 2) assessed for the program.
