Baron Oil PLC has made significant strides in its Chuditch-2 appraisal well project in the Democratic Republic of Timor-Leste, with CEO Andy Butler revealing the discovery of approximately 1.2 trillion cubic feet (TCF) of gas. The company is now gearing up for an appraisal well later this year, marking a pivotal moment in its exploration efforts.
The completion of a site survey, a critical step for ensuring safety and environmental protection before drilling, has been achieved. Initial plans were adjusted after high-resolution sonar imaging identified irregular seabed conditions at the original drilling location. An alternative site, 286 metres away, was selected, where shallow boreholes confirmed the seabed's capability to support drilling operations. This new location, positioned higher in the gas structure, is anticipated to yield a gas column of about 249 metres, a substantial increase from the initial 30 metres discovered.
Operational efficiencies have been a highlight of the project, with costs remaining well below the approved budget. This achievement is attributed to strong collaboration with industry partners. Baron Oil is also making progress on technical, commercial, and regulatory fronts, with ongoing planning and design work. The company is actively engaging with potential funding partners to support the project's advancement.
This development is not only a testament to Baron Oil's operational capabilities but also underscores the potential for significant energy resources in Timor-Leste. For more information on Baron Oil's projects, visit https://www.baronoilplc.com. The implications of this discovery and the subsequent appraisal well could have far-reaching effects on the energy sector, offering new opportunities for gas extraction and contributing to global energy supplies.
