system consists of a strong mechanical tamper-proof lock that can only be operated with a ZOCA
handheld mobile device.
In addition to defining the areas governed, the Treaty provides for the creation of a Ministerial Council and a Joint Authority to oversee the various rights and responsibilities involved in the petroleum exploration in ZOCA
The Coleraine-1 well did confirm the presence of hydrocarbons in this region; and future exploration of this 502,000 acre permit is likely to concentrate on other structures defined within ZOCA
96-16, particularly those on the eastern side of the permit area.
s (BHP) interest in the Bayu-Undan gas/gas condensate field in the Timor Sea's Zone of Cooperation (ZOCA
), as well as other properties in ZOCA
and Australian Commonwealth waters.
has signed a Letter of Intent with Diamond Offshore Drilling to utilise the "Ocean General" semi submersible drilling rig to drill the Coleraine-1 well in the Company's Timor Sea exploration permit ZOCA
5 well was drilled on the Phillips-operated block ZOCA
91-13 to a total depth of 10,827 feet.
August-October: The Coleraine-1 well in permit ZOCA
96-16 in the joint Australia / UN zone of the Timor Sea, will be drilled to 12,000 feet by Philips Petroleum, to test Plover and Elang Sandstones, and has the potential upon discovery to hold reserves of order 150 million barrels of oil.
The Bayu-4 well was drilled on Phillips-operated block ZOCA
91-13 to a total depth of 10,850 feet.
OTCBB: TEPUF) announced today that formal documentation has been signed between Phillips Petroleum Co (NYSE: P) and the ZOCA
96-16 joint venture partners.
Following the drilling of this well by Phillips Petroleum, ZOCA
96-16 license interests will be Phillips Petroleum 66%, Norwest Energy NL 14%, West Oil NL 10%, and Trans-Orient Petroleum Ltd.
The Bayu-3 well was drilled on Phillips-operated block ZOCA
91-13 to a total depth of 10,417 feet.
The Bayu-Undan unit group consists of participants in the ZOCA
91-12 and ZOCA
91-13 licenses in Zone of Cooperation A of the Timor Sea.