Baron Oil Schedules Site Survey at Timor-Leste Gas Field

Monday, February 12, 2024

Baron Oil, through its fully owned subsidiary SundaGas Banda Unipessoal, has awarded contracts for the site survey at the planned drilling location for the Chuditch-2 appraisal well, offshore Timor-Leste.

Site survey operations at the gas field are expected to be conducted during February and early March 2024.

The objective of the site survey, which is a requirement, is principally to identify any potential hazards at the proposed well site, ensuring that a drilling rig can be safely located there with minimal environmental impact.

The site survey work consists of geophysical studies and physical investigation of the seabed and shallow geological section.

SundaGas maintains dialogues with other companies active in the region to identify operational synergies for the drilling of the Chuditch-2 appraisal well.

These discussions have resulted in the opportunity to acquire the site survey in partnership with a nearby operator, according to Baron Oil.

The estimated cost savings that derive from sharing services and vessel mobilisation compared to standalone acquisition are significant, the company said.

In addition, the shared operation enables SundaGas to acquire the site survey earlier than originally planned, enabling aspects of well design to be accelerated and the environmental approval submissions to be expedited.

Worth noting, Baron Oil completed the farm-up agreement with Timor Gap in relation to the TL-SO-19-16 Chuditch production sharing contract.

As part of the farm-up arrangements, Timor Gap will make a cash payment to SundaGas of $1 million to cover back costs within 30 days.

SundaGas retains operatorship of the Chuditch PSC and holds a 60% working interest. Timor Gap has a 40% interest, made up of a working interest of 15%, plus its original 25% interest which is carried to first gas.

From now on, Timor Gap will be responsible for paying 20% of all costs in relation to the PSC, including the drilling of the planned Chuditch-2 appraisal well.


Categories: Geoscience Subsea Industry News Activity Asia Oil and Gas

Related Stories

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

Sapura Energy Nets $720M from Multiple Drilling Services Contracts

Six New Gas Wells in Line for BP’s Shah Deniz Field in Caspian Sea

Malaysia's Petronas Plans Job Cuts

CNOOC Starts Production at Offshore Oil Filed Equipped with CCUS Tech

Petronas Preps for Sabah-Sarawak Gas Pipeline Decom Op

BP to Help Boost Oil and Gas Output at India’s Largest Producing Field

Saipem’s Castorone Vessel on Its Way to Türkiye’s Largest Gas Field

Current News

Mitigate SCC & HE to Keep Offshore Metal Structures Ship Shape

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

Pakistan’s OGDC to Start Production at ADNOC’s Offshore Block by 2027

Petrovietnam, Petronas Extend PSC for Offshore Block

Sapura Energy Scoops Close to $9M for O&M Work off Malaysia

Hanwha Ocean Marks Entry into Deepwater Drilling Market with First Drillship

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com