Offshore staff

NORTH SYDNEY, Australia – Oilex continues to mature a drilling candidate for a third commitment well in the JPDA 06-103 concession offshore Timor-Leste, according to partner PanPacific Petroleum (PPP).

The final 3D seismic data sets are now available for the Tutuala and Bazartete structures. Interpreted results for Tutuala look promising, PPP adds, and the Bazartete interpretation is also under way.

Due to rig availability constraints, the next well has had to be put back until at least 2Q-3Q 2012. In recognition of circumstances Oilex has been granted a 12-month extension to the current contract term which now concludes on Jan. 15, 2013.

One condition was an additional 25% relinquishment which PPP says can be easily accommodated, given the downgrading of the southern part of the contract area following the disappointing results of the first two commitment wells.

In the TL/2 concession off Australia, operator Apache has proposed a 3D ocean bottom cable (OBC) seismic survey covering the shallow water Airlie Island and Taunton Reef areas (extending into TP/7) with the aim of improving structural imaging.

PPP says planning is under way and the survey should start early next year.

01/27/2012