Carnarvon Petroleum to redevelop Timor-Leste field

Carnarvon Petroleum Ltd will drill Buffalo-10 in the second-half 2021, targeting the crest of the proven Buffalo oil field, offshore Timor-Leste in Bonaparte basin.

The well is in production sharing contract (PSC) TL-SO-T 19-14 and is the first step to redevelop the field. Once drilled, the well will be suspended as a future production well.

The company awarded drilling management services to Petrofac which will include completion of detailed well design, procurement of long lead time items, and contracting the drilling rig and associated services.

Carnarvon is operator of the field with JV partner Advance Energy Partners. Carnarvon will have 50-75% interest in the project after the JV concludes joint financing.

Source: Oil & Gas Journal