3D Energi (ASX:TDO) said that Australia's National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) approved its joint venture partner ConocoPhillips Australia's (COPA) environment plan for the Otway exploration drilling program, according to a Monday filing with the Australian bourse.
The environmental plan outlines a program for drilling up to six exploration wells across the VIC/P79 and T/49P exploration permits, in which the company holds a 20% participating interest, the filing said.
COPA will carry 3D Energi for up to $65 million in drilling costs for the initial two wells set to start this year, the filing added.
With the approval, 3D Energi will now seek additional regulatory approvals, including well operations and safety approvals from NOPSEMA.
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