The world's largest wet gas potential in Australia has been discovered to be dry

The partners' hopes for a multi-trillion cubic feet gas discovery were dashed when Western Gas' highly awaited Sasanof exploratory well off the coast of Australia turned out to be a dry hole.

The Valaris MS-1 semi-submersible rig drilled the Sasanof-1 wildcat to a total depth of 2390 metres, however, no commercial hydrocarbons were found.

"This is a disappointing result," Western Gas executive director Wil....