Offshore staff
PERTH, Australia – Carnarvon Petroleum is finalizing a contract for a rig to drill the Buffalo-10 appraisal well in the Timor Sea.
The company has signed a letter of intent with an unnamed drilling contractor, and expects to take delivery of the rig toward the end of October, once it has completed its current multiple-well program.
Final timing for spudding the well is subject to securing drilling support services and equipment, and joint venture/regulatory approvals.
Buffalo-10 well is designed to test an attic oil accumulation that remained after production from the Buffalo field was terminated by previous operator BHP.
Carnarvon has based its interpretation on results of reprocessing of 3D seismic over the field, using waveform inversion technology.
Partner Advance Energy, which will carry Carnarvon for the first $20 million of the well costs, sees potential – in the event of a success – for the field to produce around 40,000 b/d by the end of 2023.
06/30/2021
