AC/P41 Nexus 50%, Shell 50%

Nexus was awarded permit AC/P41 in the Browse Basin, offshore Western Australia in conjunction with joint venture partner Shell in March 2007.  Nexus and Shell each hold 50%, Shell as the operator. The permit is considered to have significant potential as it surrounds the AC/P23 permit which contains the Crux gas condensate field. Interpretation of the Crucis 3D seismic data acquired by Nexus over the Crux field in March 2006 and the northern part of AC/P41 indicates that the Crux structural trend observed in AC/P23 continues into AC/P41. The interpretation has also highlighted the potential for the Plover Formation sands which were seen in Crux-2, Crux-2 ST1 and Crux-3 to be quite extensive both in AC/P41 and AC/P23.

 

The first exploration well to be drilled in AC/P41 will be the Libra-1 well which will be drilled in April 2008 to test a large satellite structure to the Crux field which has the potential to share a common GWC with the existing discovery. Success here could open up a new structural fairway extending northwards into the eastern part of the AC/P23 permit toward the Auriga prospect.

 

3D seismic data has proven to be crucial in delineating the complex structures at reservoir level in this area and so 3D coverage in AC/P41 has been increased through the acquisition of the 500km² 3D Octantis survey in July 2007. Interpretation of this data will be key in determining the location of the second and third commitment wells in AC/P41 which are scheduled to be drilled in the second half of 2008.