THE PURSUIT of new offshore gas resources in continuing in the Otway Basin, with ConocoPhillips Australia employing the semi-submersible rig Transocean Equinox to drill two exploration wells this year.
The latest program began on Saturday [1 November] with the rig commencing work on Essington-1, located approximately 50km southwest of Port Campbell in the offshore permit area VIC/P79, which lies adjacent to current natural gas developments.
Transocean Equinox is being attended by the AHTS Andreas Viking .
ConocoPhillips Australia president, Jan-Arne Johansen said, “Natural gas is key to providing reliable and affordable energy to households and businesses as Australia seeks to transition to net zero, and ConocoPhillips Australia is looking to be part of the solution.”
Drilling of Essington-1 is likely to continue through to the end of November 2025, with a second well in VIC/P79 (Charlemont-1) expected to commence in December (weather and operational conditions permitting).
Additional wells may be considered in the future under the approved Environment Plan, the company said.
“We remain committed to conducting our exploration activities safely and have extensive environmental protection measures in place. Our Environment Plan was approved in February 2025 following an extensive application and assessment process with the regulator.”
ConocoPhillips Australia is operator of the Otway Exploration Drilling Program and holds 51% with joint venture partners the Korea National Oil Corporation (29%) and 3D Energi Limited (20%).
Transocean Equinox completed a five-well assignment on the North West Shelf before arriving in the Otway Basin in March this year to work for Beach Energy, for the plug and abandonment of the Geographe 1 and Thylacine 1 wells, and drilling of the Hercules 1 exploration well in September.
The latter, characterised as a moderate-to-high-risk gas exploration prospect targeting the Waarre reservoir, reached a total depth of 2,350 metres but no significant hydrocarbons encountered and the well was subsequently plugged and abandoned.
After the ConocoPhillips contract Transocean Equinox has a series of future assignments that could keep it in Australia until 2028.
Beach will utilise the rig again in n H2 FY26, drilling and completing the La Bella 2 development well, completing the Artisan discovery, a well intervention at Thylacine, and abandoning the Trefoil 1 and Yolla 1 wells in the Bass Basin.
The rig is owned by the Swiss-based, US-owned rig specialist Transocean Ltd.