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BPH Energy (ASX:BPH) Announces Commencement of Baleen Tender Program

Summary

  • BPH Energy Limited (ASX:BPH) recently announced that Asset Energy has issued a Call for Tender for long lead items for the Baleen well.
  • The Call for Tender is a significant step in the planning and preparation for the Baleen-1 well.
  • Advent has recently appointed Xodus Group to prepare an Environmental Plan for first submission to NOPSEMA.

BPH Energy Limited (ASX:BPH) has recently announced the commencement of Baleen tender program. The Company informed that Asset Energy, which is a wholly owned subsidiary of Advent Energy Ltd, has issued a Call for Tender for long lead items for Baleen well.

BPH possesses a substantial stake in Advent, whose principal activity is to make the most of its gas resources. Advent holds 85% stake in the PEP11 permit via Asset Energy, while the remaining 15% is held by Bounty Oil & Gas NL (ASX:BUY).

The PEP11 Joint Venturers, Advent and Bounty Oil, are planning to undertake drilling at the Baleen prospect, situated in the high-value PEP11 permit offshore New South Wales (NSW). The Joint Venturers note that any gas discovery in the PEP11 permit will be for the benefit of consumers and industry and create new NSW jobs.

Also Read: BPH Energy’s (ASX:BPH) Investee Advent Unveils Plans for Gas Exploration in NSW

Significance of Call for Tender

The Call for Tender has been issued for the provision of subsea wellhead equipment, materials, and other related services for the Baleen drill program. This equipment provides the ‘foundation’ for the proposed Baleen well and represents the first stage of well construction.

Furthermore, the Call for Tender is a significant step in the planning and preparation for the Baleen-1 well. The move ensures that Asset Energy will be ready to initiate drilling at the Baleen prospect after relevant approvals have been obtained.

Must Read: Government report lifts BPH Investee Advent’s confidence in PEP11 project

Once the Baleen-1 well has reached total depth and been fully assessed, it will be plugged and abandoned in accordance with the pre-drill planning as an exploration well. Afterwards, the well head and related equipment will be removed from the seabed.

Recent Appointment for Environmental Plan

Recently, Advent also appointed Xodus Group to prepare an Environmental Plan for first submission to NOPSEMA (National Offshore Petroleum Safety and Environmental Management Authority). Advent has made the appointment under a lump sum contract, which has been awarded after reviewing proposals for Environmental Approvals for the Baleen-1 gas prospect.

Do Not Miss: BPH Investee Advent Makes an Appointment to Prepare Environmental Plan for Baleen-1 Target

Xodus is a leading international energy environmental consultancy, having a strong track record in the offshore sector of Australia. In this sector, the Group serves as subject matter experts (SMEs) in regulatory approvals and environmental impact assessment.

In March this year, Xodus was commissioned to perform a preliminary environmental screening evaluation of the proposed Baleen well activity. The screening was planned to identify the work required to undertake an environmental impact evaluation to support the necessary approvals.

Related Read: BPH Investee Advent Commissions Environmental Review, BPH Tastes an Eventful Half-Year

BPH shares closed the trading session at AU$0.092 on 1 June 2021.

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