East Timor could bag $600 million as driller gets set for Buffalo

buffalo timor east driller field
Gulf
  • Date: 01-Jul-2021
  • Source: Energy Voice
  • Sector: Oil & Gas
  • Country: Gulf
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East Timor could bag $600 million as driller gets set for Buffalo

East Timor could pocket just over $600 million if the Buffalo-10 exploration well, due to be drilled late October, is successful. The operator, Australia’s Carnarvon Petroleum, as well as UK partner Advance Energy, said yesterday that they have secured a jack-up drilling rig for the probe at the historic Buffalo field offshore East Timor.

Carnarvon and Advance said they have selected a jack-up drilling rig for the Buffalo-10 exploration well and a formal contact is now being finalised. All being well, drilling will start late October and the results of the probe should be available by early December.

Australian-listed Carnarvon Petroleum and UK-listed Advance Energy, are hoping to develop more than 30 million barrels of oil that previous operators, including BHP and Nexen Petroleum, appear to have left behind offshore East Timor, also known as Timor Leste.

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