Pilot Energy and partner Triangle Energy are among the first in Australia to lodge a submission to seek regulatory approvals for an offshore carbon capture and storage (CCS) project.
Pilot Energy said it has confirmed the potential for millions of barrels of oil from its WA-507-P permit after an independent audit.
The company previously announced the potential for multi-Tcf gas discoveries within the North Carnarvon basin off the coast of Australia.
Pilot Energy has reached a settlement agreement with Royale Energy following a dispute over the Western Block project in Alaska.
The company said under the terms the parties have agreed to release each other from all current and future claims relating to the disagreement.
