petrolium potental

OFFSHORE ACREAGE RELEASE
The presence of an oil accumulation in the Gage Roads prospect, and oil shows at Araucaria 1, indicate that a petroleum system is present in the Vlaming Sub-basin. Seismic data provide further evidence of a potential active petroleum system in Areas W05-21 & W05-22, with an apparent gas chimney imaged near Warnbro 1 (Analysis of drilling results by Miyazaki et al. (1996) and Crostella & Backhouse (2000) suggests that hydrocarbon accumulations are likely to be found where valid traps can be identified. Predicting valid reservoir/seal geometries and mapping valid structural and/or stratigraphic traps with closure is critical for the discovery of petroleum accumulations in this area. Previously, the complex structural geology of exploration targets combined with limited seismic resolution resulted in failure to find commercial petroleum accumulations. Lithostratigraphic correlations, based sometimes on poor quality seismic data, were unable to accurately predict the distribution, thickness and quality of reservoirs and seals (Spring & Newell, 1993). The development of a modern sequence stratigraphic framework for the petroleum system elements in the Vlaming Sub-basin, and the use of modern, good quality seismic data (3-D data where possible), is thus a key to successful exploration in the Vlaming Sub-basin.