ConocoPhillips drills ahead at Pharos-1

conocophillips_logo27 June 2014, News Wires – ConocoPhillips is close to wrapping up its Browse basin phase two exploration drilling campaign off Western Australia as operations continue at the sixth and final well.

Australian partner Karoon Gas said on Friday that preparations were being made to begin drilling in the 6-1/2 inch hole section of the Pharos-1 well in WA-398-P.

The well was spudded in May and is at a current well depth of 4950 metres rotary table. Wireline logging of the previous hole section has been undertaken to obtain information to assist future well design.

Pharos-1 is targeting an extension of the Proteus-1 discovery, which is located about nine kilometres to the southwest and established excellent reservoir quality and condensate bearing gas in the Montara formation.

It is being considered as a low-risk exploration well with the potential to add considerable resource to any future Poseidon development, Karoon Gas said.

The well is being drilled by the semi-submersible rig Transocean Legend.

ConocoPhillips operates the Greater Poseidon project and holds a 60% stake in WA-398-P. The remaining 40% interest is currently held by Karoon, although the company announced its plans earlier this month to sell off its stake in the block to compatriot Origin Energy.



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