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    1. Regional Reports
    2. Australia & New Zealand

    Australian authorities approve Gippsland Basin permit relinquishment

    Aug. 12, 2022
    Hibiscus Petroleum subsidiary, Carnarvon Hibiscus, and 3D Oil have secured approvals for their request to surrender the VIC/P57 exploration permit in the Gippsland Basin offshore southeast Australia.
    Courtesy of 3D Oil
    Vic P57 Header 62f67391d1c74

    Offshore staff

    KUALA LUMPUR, Malaysia — Hibiscus Petroleum subsidiary, Carnarvon Hibiscus, and 3D Oil have secured approvals for their request to surrender the VIC/P57 exploration permit in the Gippsland Basin offshore southeast Australia.

    They submitted their application in February, prior to entering the secondary and optional work program (Year 4), which carried a commitment to drill an exploration well.

    3D Oil was awarded a renewal for four of the original eight blocks that previously comprised VIC/P57 in March 2018. The permit covers an area of 246 sq km in shallow waters of the northwest offshore Gippsland Basin, close to existing infrastructure.

    The partners conducted a farmout exercise from late 2019 to early 2022 to attract a well carry to drill one of the two prospects they had identified to meet the Year 4 work obligations. However, there were no takers, hence the decision to surrender the permit.

    Approval came through from The Commonwealth – Victoria Offshore Petroleum Joint Authority on Aug. 4, followed by a further approval from NOPTA.

    08.12.2022