East Timor set for three more onshore exploration wells as driller claims success

Australian firm Timor Sources mentioned it’s going to drill three extra exploration wells onshore East Timor after claiming to have “licensed” 24.2 million barrels of oil and 1.3 billion cubic toes of gasoline reserves from its first two onshore wells.

“Schlumberger took oil samples for us at depth from Karau and Kumbilli wells. Oil from Karau proved to be 38 API low sulphur mild candy crude. Kumbilli-1 was, nearly condensate, 44 API mild candy crude, prime quality spec,” Suellen Osborne, chief govt of Timor Sources, advised Vitality Voice.

The privately-owned Australian oil and gasoline firm final October spudded the primary onshore effectively, Karau-1, in additional than 50 years within the Southeast Asian nation, also referred to as Timor Leste, as a part of a back-to-back exploration drilling marketing campaign. The second effectively, Kumbilli-1, was drilled in PSC TL-OT-17-08, also referred to as Block A.

Three extra exploration wells shall be drilled, beginning this October, added Osborne. The primary effectively shall be a drill stem take a look at. This can be a process for isolating and testing the stress, permeability and productive capability of a geological formation in the course of the drilling of a effectively. The take a look at is a crucial measurement of stress behaviour on the drill stem and is a worthwhile manner of acquiring info on the formation fluid and establishing whether or not a effectively has discovered a industrial hydrocarbon reservoir.

“Entrance-end engineering and design (FEED) research are effectively underway, for improvement of those fields,” mentioned Osborne.

“We are going to attempt to expedite the sector improvement approvals, to ascertain early oil manufacturing inside two years,” she added.

“These are thrilling instances to be engaged on a undertaking that may be creating jobs and revenues for the nation of Timor Leste, within the close to time period. Attracting funding for this improvement and assist from the Australian or Chinese language governments for debt funding for infrastructure improvement shall be necessary. The entrance finish price to have the Kumbilli area in manufacturing is roughly US$46 million, inclusive of scalable tank storage and an early export system,” famous Osborne.

East Timor’s upstream licensing spherical disappoints

Vitality Voice beforehand reported that the plucky explorer was contemplating an preliminary public providing (IPO) to lift extra funds in its quest to unlock East Timor’s petroleum potential.