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Tap to sell permit off Western Australia

Written by  AOG Staff Wednesday, 14 June 2017 00:45
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As part of its strategy to realize value from its noncore asset portfolio, Tap Oil has entered into an agreement with a private exploration and production company for the sale of its 20% interest in offshore permit WA-8-L, for a cash consideration of AU$800,000.

WA-8-L is a production license in Western Australia that covers an area of 161sq km over two graticular blocks and is located within the north-eastern part of the Dampier sub-basin of the Northern Carnarvon basin.

The license contains the Talisman and Amulet oil fields. The Amulet field lies approximately 30km south of the Santos-operated Finucane South and Fletcher oil field floating production storage and offloading vessel.

Tap said the sale is conditional on approval from Australia’s National Offshore Petroleum Titles Administrator. 

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