BP Plc (BP/), Europes second-largest oil company, expects to start its proposed deep-water drilling campaign off southern Australia in late 2015 or early 2016 and to obtain a drilling rig before the end of this year.
The first stage of the program in the Great Australian Bight was estimated in 2011 to cost about A$600 million ($599 million), Jamie Jardine, BPs Melbourne-based spokesman, said today by phone. The London-based company said in January two years ago, when it received the permits from the Australian government, that drilling may start in 2013 or 2014.