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DILI, 03 march 2021 (TATOLI)– Australian Firm Santos as operator of the Bayu Undan Joint Venture, had made a final investment decision for the US$235 million phase for the 3C infill drilling program at Bayu Undan field in the Timorese sea, offshore Timor-Leste.

“We are planning on the 3C infill drilling at Bayu Undan field, in the second trimestral (Q2) this year, thus this program will extend the period for the petroleum production field and maintain the Timorese workers including provides more business opportunities to all local companies,”According to the Document from ANPM.

This program comprises three production wells such as two platforms and one subsea that will be developed additional natural gas and liquids reserves, extending field life as well as production from the offshore facilities and the Darwin LNG plant.

After the project had been approved, the Australian Firm Santos became operator of the Bayu Undan following the completion of the acquisition ConocoPhillips’ northern Australian and Timor-Leste

The wells will be drilled using the Noble Tom Prosser Jack-up rig for the first well that is been programmed in 2021.

“The production of the first well is expected in three trimestral (3Q) of 2021,” the document stated.

Santos Managing Director and Executive Officer, Kevin Gallagher, is delighted to pursue this opportunity which will optimize field recovery, extend production and deliver significant value to both the Bayu Undan Joint Venture and the People of Timor-Leste.

“Through a close and constructive working relationship with the Timor-Leste Government and our Joint Venture partners have been able to move so quickly towards our shared goal of maximizing value from the Bayu Udan field,” his statement underlined at the Document.

This infill drilling program adds over 20 million barrels of oil equivalent gross reserves and production at a low of cost of supply and extends the life of Bayu Undan, reducing the period that Darwin LNG is offline before the Barossa project coms on stream.

Santos currently has around 68,4% interest and operatorship in Bayu Undan and Darwin LNG which will reduce to 43,4%, upon completion of a 25% sell down to SK E& S.

The conclusion of the Sell-down is now well advanced with consent from Bayu Udan/DLNG joint venture and Timor-Leste regulator received before Christmas last year and it has well progressed with Australian regulatory approvals.

The sell down will complete once the final investment decision on Barossa is taking in the first trimestral of this year, 2021.

 

Journalist: Florêncio Miranda Ximenes

Editor: Julia Chatarina

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