The Australian National Offshore Petroleum Titles Administrator (NOPTA) has approved an application by 3D Oil for a license transfer offshore Victoria.
Courtesy 3D Oil
The local area surrounding VIC/P74 include oil and gas discoveries.
Under the application, 3D Oil will assume the 50% interest in the VIC/P74 permit in the Gippsland Basin held by Hibiscus Petroleum subsidiary Carnarvon Hibiscus, at no cost.
Hibiscus opted to exit at the end of the Year 3 work program, preferring to focus on E&P elsewhere.
