Jabiru and Challis

Coogee Resources is focused on oil and gas exploration and production in the Bonaparte Basin of the Timor Sea, located in offshore Australia.

Coogee Resources operates two FPSOs at Jabiru and Challis in the Australian waters of the Timor Sea

Jabiru FPSO

Challis FPSO

Coogee Resources is the operator of, and holds a 70.9375% interest in, the Jabiru and Challis Joint Venture. The joint venture concerns the AC/L1, AC/L2, and AC/L3 production licences, the Jabiru and Challis oil fields and the Jabiru and Challis FPSOs. The other participants in the Jabiru and Challis Joint Venture are OMV and Santos (which hold 18.75% and 10.3125% interests respectively).

The crude oil produced from Jabiru and Challis is light oil (approximately 40° API) which is high in paraffin, low in sulphur and has historically attracted a premium over the benchmark Tapis crude oil price. Currently, Coogee Resources has a crude sales agreement with Petro Summit to sell its share of Jabiru and Challis crude oil production.

Location and geography

The Jabiru and Challis oil fields are located in the Australian waters of the Timor Sea, approximately 650 kilometres west of Darwin, Northern Territory.