June 3, 2022

Ocean Apex - Credit: Brian Scott/MarineTraffic.com

Ocean Apex – Credit: Brian Scott/MarineTraffic.com

Oil and gas company SapuraOMV has recently completed drilling operations at the Kanga-1 well offshore Western Australia without encountering commercial hydrocarbon volumes.

SapuraOMV used the Diamond Offshore Ocean Apex semi-submersible drilling rigThe Kanga-1 well, to be plugged and abandoned, fulfills the WA-412-P exploration permit work program obligations.

The well is located in the Dampier Sub-basin, around 20 km east of the Mutineer/Exeter and Fletcher/Finucane oil fields.

Damon Neaves, CEO of Finder Energy, SapuraOMV’s partner in the project, said: “Whilst this is a disappointing result, Finder has a high quality and valuable portfolio of drill-ready prospects in both the North West Shelf and North Sea, and we remain confident that our portfolio will deliver a material discovery. Our famous strategy ensured that Finder had minimal financial exposure in Kanga-1.”

Finder holds a 15% interest in Kanga-1 and WA-412-P and had a capped well contribution of US$0.94 million.

“Finder remains in a strong financial position and is fully funded to execute our work programs and deliver on our strategy over the next few years. Our focus now turns to farm-outs across our broad portfolio to fund future wells with industry partners, ensuring our existing shareholders are highly leveraged to drilling success,” Neaves said.

This post appeared first on Offshore Engineer News.

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