Logistics teams are in place, and all remaining regulatory approvals should come through prior to the rig’s arrival.
The Buffalo field, shut-in by previous operator by BHP in 2004, is in 30 m (98.4 ft) of water with a reservoir depth 3,200-3,300 m (10,498-10,827 ft) below the seabed.
There is known to be a high deliverability reservoir containing high quality light oil that could sell at a premium to Brent in today’s market, Carnarvon said.
The well will penetrate the existing oil column and assess the extent of the revised mapped attic oil column.
If drilling confirms a commercial resource, the company and partner Advance Energy plan to shorten the timeline to first production.