Surveys lead to Timor-Leste gas upgrade

Seismic surveys have been completed over parts of the JPDA 06-101 (A) production sharing contract offshore Timor-Leste, according to FLEX LNG.

Offshore staff

TORTOLA, British Virgin Islands -- Seismic surveys have been completed over parts of the JPDA 06-101 (A) production sharing contract offshore Timor-Leste, according to FLEX LNG.

Early analysis of the 2D data suggest gas resources in the main Chuditch structure and surrounding prospects could be 30-40% larger than previously thought. Chuditch Main, Chuditch West, and Wombat may hold over 3 tcf combined.

FLEX LNG also has won an extension to an agreement signed last year to acquire Minza, which currently has 100% of the production sharing contract for JPDA 06- 101(A).

“The extension to the agreement with Minza is intended to provide FLEX LNG with sufficient time to conclude the ongoing partner selection process and secure a partner that can undertake the necessary appraisal drilling, CEO Philip Field said. “Recent developments have shown the potential for floating LNG to monetize numerous gas resources in Australia and Southeast Asia. We are hopeful that over time a number of these projects will be developed utilising FLEX LNG Producers [floating LNG vessels]."



06/17/2010

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