Baron Oil plc’s subsidiary has signed the farm-up agreement for the TL-SO-19-16 Chuditch production sharing contract, offshore Timor-Leste.
OPERATIONS
The contract between SundaGas Banda Unipessoal Lda and national oil and gas company TIMOR GAP Chuditch Unipessoal Lda follows December’s memorandum of understanding and now needs only regulatory approval.
Planned operations remain drilling and flow testing the Chuditch-2 appraisal well in late 2024, subject to rig and drilling services availability and drill financing.
“We’re delighted to have now signed the documents to increase TIMOR GAP’s participation in the Chuditch PSC through the assignment of a paying interest,” said chief executive Andy Yeo.
“The expedited preparation and execution of these agreements demonstrates our excellent working relationship, and we thank TIMOR GAP for their engagement in our overall combined efforts to progress the Chuditch PSC.”