Karoon Gas Repairs BOP and Marine Riser (Australia)

Karoon Gas Australia Ltd advises that at 06:00 hours (WST) today, the BOP and marine riser were being pulled from seabed for repairs.

Since the last report, diagnostic testing of the BOP has continued. This further function testing has narrowed the mechanical parts believed to be the root cause of the BOP malfunction. Replacement parts are being secured and mobilized to the rig.

Upon completion of the replacement parts installation and successful function testing of the BOP, both on the surface and on the sea floor, drilling of the 8-1/2” hole section will commence.

The Transocean Legend semi-submersible rig is drilling the exploration well.

ConocoPhillips is the operator of the jointly held WA-314-P, WA-315-P and WA-398-P Browse Basin permits containing the previously announced Poseidon and Kronos gas discoveries. Karoon Gas Australia Ltd holds 40% of the permit WA-315-P and WA-398-P, and 90% of permit WA-314-P.

Boreas-1 is located approximately 4 kilometres south of Poseidon-1 in WA-315-P on a large tilted fault block which is part of the of the north-east trending structural high of the greater Poseidon structure. The objective of the well is to test the extent, presence and quality of reservoirs within the Boreas-1 fault block.

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Subsea World News Staff , July 13, 2012