ConocoPhillips spins the drill bit in Australia’s Otway Basin with Transocean rig

November 3, 2025, by Dragana Nikše

The Australian subsidiary of the U.S.-based energy giant ConocoPhillips has started drilling an exploration well offshore Australia using a rig from Transocean’s fleet.

Transocean Equinox, former Songa Equinox; Credit: ALP Maritime

As disclosed by 3D Energi, ConocoPhillips’ partner in the license, drilling has started at the Essington-1 gas exploration well within the VIC/P79 exploration permit, located in Victoria’s Otway Basin. The drilling is likely to continue through to the end of November, ConocoPhillips reported.

The well was spudded on November 1, 2025, using the Transocean Equinox drilling rig. The rig was reported as being in the process of mobilization to the site last week after completing a program in the same basin with Beach Energy.

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Exploration & Production

Essington-1 is located approximately 55 kilometers offshore from Port Campbell in water depths of approximately 100 meters. The well is targeting a combined 262 Bcf gross mean prospective resource from two stacked reservoirs: Waarre C and Waarre A, with the latter being a primary target encompassing gross mean prospective resource of 186 Bcf, with what 3D Energi believes is a 68% chance of success.

Noel Newell, Executive Chairman of 3D Energi, said: “The wait is over — the drill bit is now turning at Essington-1. This marks the beginning of the Otway Exploration Drilling Program, one of the most exciting exploration campaigns on Australia’s East Coast in recent years. Essington-1 is testing stacked gas reservoirs that have the potential to transform our resource base and help underpin the future energy needs of the East Coast’s domestic gas supply. It’s a major milestone for 3D Energi, and just the start of what promises to be an exciting drilling program for shareholders.”

This is the first of two wells in the initial phase of the Otway Exploration Drilling Program (OEDP), aiming to identify commercially viable natural gas reserves to help supply Australia’s East Coast market and meet current and future energy needs. The full program proposes drilling up to six exploration wells, with up to four additional optional wells envisaged for the second phase.

After the Essington-1 well program is complete, the Transocean Equinox will mobilize to drill the Charlemont-1 exploration well, also situated in the VIC/P79 exploration permit. The second well is located approximately 20 kilometers to the northwest. ConocoPhillips expects the drilling of this well to start in December 2025.