Buf­falo field pro­gresses

The Australian Energy Review - - NEWS -

CARNARVON Pe­tro­leum’s Buf­falo oil field in the Ti­mor Sea is a step closer to pro­duc­tion with drilling soon to be­gin at the Buf­falo-10 well. The com­pany said since the sign­ing of the Mar­itime Bound­ary Treaty by the Aus­tralian and Ti­mor-leste gov­ern­ments in March, the project was now able to move for­ward. Carnarvon chief ex­ec­u­tive Adrian Cook said the well was ex­pected to take about 30 days to drill and com­plete. “The low cap­i­tal and op­er­at­ing costs mean this is a very high yield­ing, stand­out project at cur­rent oil prices,” Mr Cook said. “The na­ture of the project is also well suited to Carnarvon in terms of its scale, time to first pro­duc­tion and over­all risk pro­file.”

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