AWE Managing Director Bruce Wood said that the drilling program is expected to be completed at the Trefoil-2 well and the nearby Rockhopper well by the end of 2009 and that any decision to develop the project further would take at least six months.
“There is a success case where we would build a new platform and a pipeline, but it depends on the results [of the drilling],” Mr Wood said.
If a new platform is built, gas could be processed at the nearby BassGas Project, which currently provides gas, condensate and LPG from the Yolla Gas Field situated 147 km off Victoria’s east coast. Gas would be transported from the new platform via a pipeline to be processed onshore at Lang Lang.
However, if a smaller amount of gas is proven, a tieback could be built to the existing Yolla A platform.
The BassGas Project is a joint venture between Origin Energy, AWE and CalEnergy.
In addition, Australian Worldwide Exploration has formally changed its name to AWE Limited, after shareholder approval at its annual general meeting.
