Prospective Resource Estimate for Offshore Timor Leste: 3.368 Bcf of Gas, 30 MMbbl of Condensate
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Description
Baron Oil has announced the results of an independent review of prospective resources in Timor Leste in the TL-SO-19-16 Production Sharing Contract (Chuditch PSC). The review indicates gross mean prospective resource of 3.368 Bcf of gas and 30 MMbbl of condensate (592 MMboe). The study reviewed and validated the company’s interpretation of available subsurface data to determine the volumetric and risk factor calculations on the #1-Chuditch discovery by Shell Oil in 1998, which encountered a 25-m gas column in Jurassic Plover. According to the company, the subsurface risks for prospects and lead are estimated to be low since they share analogous geological characteristics to #1-Chuditch and other gas discoveries in the Timor Sea. The high estimate of gross prospective resources is 1.156 Bboe and may reflect potential for a single, large accumulation. London-based Baron holds a 75% operating interest in the Chuditch PSC with 25% partner with state-owned Timor-Leste Petroleum.
Baron Oil has announced the results of an independent review of prospective resources in Timor Leste in the TL-SO-19-16 Production Sharing Contract (Chuditch PSC). The review indicates gross mean prospective resource of 3.368 Bcf of gas and 30 MMbbl of condensate (592 MMboe). The study reviewed and validated the company’s interpretation of available subsurface data to determine the volumetric and risk factor calculations on the #1-Chuditch discovery by Shell Oil in 1998, which encountered a 25-m gas column in Jurassic Plover. According to the company, the subsurface risks for prospects and lead are estimated to be low since they share analogous geological characteristics to #1-Chuditch and other gas discoveries in the Timor Sea. The high estimate of gross prospective resources is 1.156 Bboe and may reflect potential for a single, large accumulation. London-based Baron holds a 75% operating interest in the Chuditch PSC with 25% partner with state-owned Timor-Leste Petroleum.