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BPH Energy updates on Baleen Well; drilling manager picked

Summary

  • BPH Energy Limited’s (ASX:BPH) investee Advent has recently appointed a drilling manager for the Baleen well project.
  • Add Energy will provide phased approach services to Advent for the drilling and preparation of the Baleen well.
  • The Baleen well program will be used to investigate the potential for carbon capture and storage.

BPH Energy Limited’s (ASX:BPH) investee Advent Energy has recently appointed a drilling manager for its PEP11 Baleen well project. Advent’s initial focus is to kick-start drilling of well at Baleen target in PEP11, for which it has already submitted applications to the National Offshore Petroleum Titles Administrator (NOPTA).

Early in February 2021, Advent also appointed Mr Andrew J Hogan as Contracts Manager for its PEP11 Baleen well project. Mr Hogan is a recognised personality in the Drilling and Completion community across Australia and New Zealand, who holds more than 30 years of operational as well as commercial experience in the Energy industry’s upstream sector.

Read More at BPH Energy’s (ASX:BPH) Investee Advent Appoints Contracts Manager for Baleen Well Project

To proceed with the significant Baleen drill program, Advent also signed a Preliminary Well Services Agreement with a global consultancy provider, Add Energy, in mid-January. BPH has released further details of this agreement in its latest update.

Preparation for Drilling of Baleen Well

With regards to preparation for the drilling of Baleen well in offshore PEP11 licence, Add Energy will provide phased approach services to Advent for the drilling and preparation of the Baleen well.

In the initial stage of the phased approach, Add Energy will deliver technical support in the below-mentioned areas:

  • Develop an appropriate well design and cost estimates.
  • Analyse an existing well design documentation.
  • Define a ready to drill tentative window and develop a drilling schedule.

A scope review gap analysis will also be undertaken to define how much time/work will be required to deliver the scope under the first stage of the phased approach. Given that BPH investee is still in the pre-approval phase of the license extension and suspension, the scope will be up to twenty days.

Drill Program to Examine CCS Potential

Advent intends to use the Baleen well program to investigate the potential for carbon capture and storage or CCS (geo-sequestration of carbon dioxide emissions) in the PEP11 permit. CCS can capture carbon dioxide fossil fuel emissions.

The International Energy Agency, as well as the Intergovernmental Panel on Climate change, believe that CCS can play a crucial role in supporting to meet global emission reduction targets. CCS is part of a broad range of solutions that hold the potential to alleviate greenhouse gas emissions and support address climate change.

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

The Sydney Basin is a sizeable contributor to the nation’s greenhouse gas emissions. It contributes up to 34 per cent of the total emissions of Australia. An independent government published research has suggested that at least 2 Trillion Cubic Ft (TCF) of carbon dioxide storage may be viable in the offshore Sydney Basin.

BPH Energy shares traded at $0.12, up 9% at the market open on 10 March 2020.

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