(EnergyAsia, August 19 2014, Tuesday) — US-based Apache Corp said it has found as much as 300 million barrels of crude oil in an offshore well in Canning Basin off the coast of West Australia state.

The Houston, Texas upstream company said it confirmed at least four discrete oil columns in the Phoenix South-1 well that indicated a productive reservoir with as much as 300 million barrels, making this the country’s biggest find in 30 years.

The well is located under 133m of water in permit WA-435-P, about 180 km north of Port Hedland.

Apache, the operator, has a 40% interest in WA-435-P and WA-437-P, with partners Carnarvon Petroleum, Finder Exploration and JX Nippon each owning 20% in the two wells.

Apache said it has exercised its option to acquire a 40% interest and operatorship of two additional adjacent permits (WA-436-P and WA-438-P) covering a total position of more than 20,000 sq km.

“Although evaluation is at an early stage, Phoenix South-1 is an exciting result,” said Apache’s international chief operating officer, Thomas Voytovich.

“The oil and reservoir quality we have seen point to a commercial discovery.  If these results are borne out by further appraisal drilling, Phoenix South may represent a new oil province for Australia.”