ConocoPhillips has received approval from Australian authorities for a drilling campaign in the Greater Poseidon area off the north-west coast.
Joint venture partner Karoon Energy said final drilling contracts for the five-to-eight well series are being negotiated and work is expected to start in the fourth quarter.
The partners have drilled three discovery wells — Poseidon-1, Poseidon-2 and Kronos-1 — and are seeking LNG-scale reserves.
