Carnarvon Energy Provides Update on Buffalo-10 Well

Source: www.gulfoilandgas.com 12/13/2021, Location: Not categorized

Carnarvon Energy has provided an update on the Buffalo project in the Timor Sea.

Carnarvon has been informed that the Valaris JU-107 jack-up drilling rig is still on its current operations, and the handover of the rig to Carnarvon is now expected to be in late December. The delays are not related to the performance of the rig or preparation by Carnarvon.

The current operator of the rig is undertaking its final operation, after which the rig will be handed over to Carnarvon.

About Buffalo

The Buffalo project involves the redevelopment of the Buffalo oil field in the Timor Sea. The field resides in only 30 metres of water with a reservoir depth between 3,200 and 3,300 meters below the sea bed.

The previous field proved the existence of very high deliverability reservoir containing high quality light oil that is expected to sell at a premium to Brent in today’s market.

Carnarvon’s mid case recoverable volume estimate is 31 million barrels (gross, 2C contingent resource). With the minimum economic field size estimated to be significantly lower than the mid case estimate, there is a strong likelihood the Buffalo-10 well will confirm an economic project. Accordingly, Carnarvon’s drilling plans provide for the Buffalo-10 well to be retained as the first production well in the redevelopment program.

For the above reasons, Carnarvon is also working its project partner, Advance Energy, on plans to compress the timeline to first production once the Buffalo-10 well confirms a commercial oil resource. These plans include engaging with industry for supply and installation of suitable equipment to produce the oil.


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