Western Australian Mines Minister Norman Moore announced
last week that West Australian Petroleum Pty Ltd
(WAPET) had made a significant gas discovery in its deepwater exploration area off the state's northwest coast.
Moore said the Geryon 1 well was drilled in exploration area WA 267-P, operated by WAPET. "Preliminary estimates suggest that the field contains a world-class gas resource," he said. "Geryon potentially provides an additional large gas reserve boosting the source base of the nearby Gorgon area gas fields."
A WAPET spokesman said the well was the second in a seven well drilling program in the permit area. The first well was Euryale and drilling of the third well was underway.
Other stakeholders in WA-267-P are local units of Texaco Inc and Mobil Corp. that each have 25 percent. Units of BP (BP)
Amoco and Royal Dutch/Shell each have 12.5 percent.