Carnarvon and Advance aim to bring Buffalo back onstream 20 years after decommissioning
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 – Level to
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
