Carnarvon Petroleum has provided an update on the Buffalo projectfollowing the successful completion of field operations.
During the course of the first week of October, Carnarvon Petroleum mobilised a team to undertake field surveillance operations in the area of the proposed Buffalo Oil Field Redevelopment Area. This surveillance was undertaken in order to determine the potential future surface locations for wells, the platform and flowline to a Floating Production, Storage and Offloading vessel ('FPSO').
The data from the survey indicates that there are no impediments to locating the wells in the surface locations that are most ideal for targeting the identified attic of oil with additional analysis continuing to be being undertaken. In line with ongoing operational readiness, the Company has also submitted the Environmental Plan for the drilling of up to three wells in the field.
Carnarvon is also actively engaging with the governments of both Australia and Timor-Leste in order to be able to drill a well, in the Timor-Leste jurisdiction, in the third quarter of next year.