Baron Oil PLC has made significant strides in its Chuditch-2 appraisal well project located in the Democratic Republic of Timor-Leste, with CEO Andy Butler detailing recent developments. The company has uncovered approximately 1.2 trillion cubic feet (TCF) of gas, marking a pivotal moment in its exploration efforts. A site survey, essential for ensuring safety and environmental compliance, has been completed, leading to the identification of a new drilling location after the original site was deemed unsuitable due to irregular seabed conditions detected through high-resolution sonar imaging.
The new site, situated 286 metres from the initial location, has been confirmed through shallow boreholes to possess the necessary seabed strength to support drilling operations. This alternative location, positioned higher in the gas structure, is anticipated to yield a gas column approximately 249 metres tall, a substantial increase from the initial 30 metres discovery. This development not only enhances the project's potential output but also underscores the importance of thorough preparatory work in exploration activities.
Operational efficiencies have been a hallmark of the project, with costs remaining well below the approved budget. This achievement is attributed to the strong collaboration with industry partners, reflecting the value of strategic partnerships in complex exploration projects. Baron Oil continues to make progress on multiple fronts, including technical, commercial, and regulatory aspects, as it advances towards drilling the appraisal well later this year. The company is also in discussions with potential funding partners to support the project's next phases, signaling confidence in the project's viability and the broader potential of the Chuditch-2 well.
For more information on Baron Oil PLC and its projects, visit https://www.baronoilplc.com.
