Origin Energy Discovers Gas Offshore Victoria

Origin Energy has announced that its Speculant-1 exploration well discovered potentially commercial quantities of gas in Waarre Formation reservoirs in the Otway Basin, offshore Australia's Victoria state, within the company operated VIC/L1(v) permit.

The Speculant discovery is a tilted fault block structure covering over 7km2 in a nearshore section off the Otway coast, and sits immediately north of the Halladale and Black Watch fields previously discovered by Origin in 2006.

Origin Chief Executive Officer Upstream, Paul Zealand said, “We are pleased to have discovered new gas resources in the Otway Basin, an area in which we have a long history of operating. We look foward to completing further evaluation of the resource, as we seek to continue to expand our gas portfolio in order to meet growing demand for gas.

The Speculant-1 well is situated approx. 3km off the southern Victorian coastline, about 30km south east of Warrnambool. Extended reach drilling technology is being employed to access offshore gas reservoirs, the company said