Advent Energy issues LOI for drilling services contract
Australian explorer Advent Energy has issued a letter of intent to Aztech Well Construction Services for the provision of drilling project management services for the upcoming Seablue-1 exploration well offshore Sydney basin, Sydney-listed BPH Energy said on September 7.
BPH owns the majority interest in Advent which is an unlisted oil and gas exploration and production company based in Perth, Western Australia. Advent, through wholly-owned subsidiary Asset Energy, holds 85% of PEP 11 in the offshore Sydney basin. Bounty Oil and Gas holds the remaining interest.
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Seablue-1 is planned to be drilled in 125 m of water approximately 26 km offshore the City of Newcastle. The drilling of the well is subject to regulatory approvals and is expected to take around 40 days to reach total depth, BPH said.
According to the company, the well has two objectives: a gas target and evaluation for carbon capture storage.