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Management and The Board
14 Jan 2021
BPH Energy’s investee Advent has inked a preliminary well services agreement with a Add Energy’s drilling and well engineering experts to look at engaging a rig for the Baleen prospect which is part of its PEP-11 gas permit in offshore New South Wales.
As part of this agreement, Add Energy’s drilling and well engineering specialists will review rig availability and engagement terms for the proposed program, develop a scope of supply for regulatory and environmental compliance, review the proposed drilling schedule and program for geosequestration (geological storage of carbon dioxide) drilling research at Baleen.
Late last year, Advent engaged Professor Peter Cook to advise on geosequestration for Baleen. According to BPH, the offshore Sydney Basin offers potential for NSW to “make deep cuts” in its carbon dioxide emissions through carbon capture and storage (CCS). BPH claims Prof Cook is an expert on CCS and has published more than 30 papers on greenhouse gas technologies.
In readiness for the proposed drilling, Advent has submitted an application with the National Offshore Petroleum Titles Administrator, which is currently in the “final decision phase”.
Comment from Add Energy’s EVP, Eduardo Robaina:
“We are excited to be working in partnership with BPH Energy and Advent to develop the Baleen prospect. I believe Add Energy’s wealth of experience and expertise in drilling and well engineering solutions will enhance the existing expertise already supporting the project and was key to us being selected.”
Comment from Add Energy’s CEO, Ole Rygg:
“This project is one of many CCS projects that Add Energy’s drilling and well engineering division is supporting. It’s great to see our team’s skills and knowledge being transferred to new and greener developments.”