Carnarvon and Advance aim to bring Buffalo back onstream 20 years after decommissioning

Australia

Melbourne

15 April 2021

Carnarvon gears up for Buffalo drilling

Firm will drill first well offshore Timor-Leste in the second half of this year

Australian independent Carnarvon Petroleum is preparing to drill its first well offshore Timor-Leste following the acquisition of a 50pc stake in the Buffalo field redevelopment by UK-headquartered Advance Energy. In return, Advance will fund drilling of the Buffalo-10 well for up to $20mn on a free-carry basis. The two companies aim to bring Buffalo, which lies in the prolific North West Shelf (NWS) oil and gas region, back onstream nearly 20 years after it was decommissioned. Australia’s BHP and Canada’s Nexen—since acquired by Chinese NOC Cnooc—originally operated Buffalo but took it offline in 2004 after production fell from a peak of 45,000bl/d to 4,000bl/d. 40,000bl/d – Le

Welcome to the PE Media Network

In 2021 Petroleum Economist is joined by Hydrogen Economist and Transition Economist to form the only genuinely comprehensive intelligence service covering the global energy industry

Want to read more?

Please choose from one of the following options:

Already registered?
Click here to log in Subscribe now
to get full access to PE + HE + TE editorial and data Register now
to receive our newsletters and unlock up to three articles per month for free Any questions?
Contact us

Comments

{{ comment.comment.Name }} Editor • {{ comment.timeAgo }}

Also in this section

Beijing strives to balance security and decarbonisation

15 October 2021

The ongoing global energy crunch underlines the difficult task facing China’s leaders in balancing energy supply security while reaching net zero in the next 40 years

Occidental exits Ghana

15 October 2021

The US super-indie is divesting its assets in the country

Gran Tierra cranks up the gears

14 October 2021

Midstream takeaway has returned to normal in Colombia, paving the way for production growth opportunities