Gippsland Basin

The Gippsland Basin is a world class hydrocarbon province. According to the Victorian Department of Primary Industry, this petroliferous basin hosts discovered oil reserves of four billion barrels of oil and 10TCF of gas reserves. In the 2002/2003 year, the basin accounted for 21 percent of Australia’s total gas sales and 17 percent of Australia’s crude oil production proving that it is an important supplier to the Australian market.

After exploring the margin of the Gippsland Basin in PEP-155 Marlo Block, VIC-P-40 (V) and VIC-P-47 Gilbert Block, Gippsland Offshore now remains a stakeholder in the latter.

The exploration program included drilling 3 wells in 2005 which culminated in a non-commercial discovery in Gilbert-1A. Evaluation of this data and integration with the geological and geophysical data is ongoing.

Updated 25 March 2008

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