Origin uncovers new gas discovery off Victoria

Origin Energy has uncovered new gas deposits off Victoria.

Origin Energy has confirmed potential commercial quantities of gas in its wells in the Otway Basin, offshore Victoria.

The Speculant 1 discovery is a tilted fault block structure running over seven square kilometres in a nearshore section off the Otway coast, and sits north of the Halladale and Black Watch fields previously uncovered by Origin in 2006.

The formation contains sands over a gross interval of approximately 100 metres vertical thickness.

Speaking on the find, Origin CEO upstream, Paul Zealand, said: "We are pleased to have discovered new gas resources in the Otway Basin, an area in which we have a long history of operating".

"We look forward to completing further evaluation of the resource, as we seek to continue to expand our gas portfolio in order to meet growing demand for gas."

The well was spudded in September.

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