* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, October 25, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    CNN Launches New Show – What to Know About Host Elex Michaelson – Central Oregon Daily

    Get to Know Elex Michaelson: The Dynamic New Host Taking CNN by Storm

    Johnny Depp Set To Finally Make His Big Hollywood Comeback After Amber Heard Controversy – Yahoo

    Johnny Depp Set for a Triumphant Hollywood Comeback Following Amber Heard Controversy

    ‘Chainsaw Man — The Movie: Reze Arc’ Review: Hit Manga Gets an Ultra-Violent, Surprisingly Emotional Big-Screen Adaptation – Yahoo

    Chainsaw Man – The Movie: Reze Arc Review: A Brutal and Unexpectedly Emotional Big-Screen Adaptation

    Reba McEntire Details Personal Relationship With Late Stepson Brandon Blackstock – KNDU

    Reba McEntire Shares Emotional Tribute to Her Late Stepson Brandon Blackstock

    Sacramento city leaders approve adding 2 entertainment zones in midtown – CBS News

    Sacramento City Leaders Approve Two Thrilling New Entertainment Zones in Midtown

    AMC brings first new Dolby Experience to Gwinnett since 2017 – Wyoming News Now

    AMC Launches First New Dolby Experience in Gwinnett Since 2017

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    New technology for grading and packing dates – FreshPlaza

    Revolutionary Technology Transforms Date Grading and Packing Process

    Project underway to upgrade technology on 911 towers in Kanawha County – WCHS

    Kanawha County Launches Major Upgrade to 911 Tower Technology

    Next steps: Technology opens new options for greater mobility – Missouri Independent

    Next Steps: How Technology is Opening Exciting New Doors to Greater Mobility

    Rydberg Technologies Inc. Announces Launch of Rydberg Photonics in Berlin – The Quantum Insider

    Rydberg Technologies Launches Exciting New Photonics Division in Berlin

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    CNN Launches New Show – What to Know About Host Elex Michaelson – Central Oregon Daily

    Get to Know Elex Michaelson: The Dynamic New Host Taking CNN by Storm

    Johnny Depp Set To Finally Make His Big Hollywood Comeback After Amber Heard Controversy – Yahoo

    Johnny Depp Set for a Triumphant Hollywood Comeback Following Amber Heard Controversy

    ‘Chainsaw Man — The Movie: Reze Arc’ Review: Hit Manga Gets an Ultra-Violent, Surprisingly Emotional Big-Screen Adaptation – Yahoo

    Chainsaw Man – The Movie: Reze Arc Review: A Brutal and Unexpectedly Emotional Big-Screen Adaptation

    Reba McEntire Details Personal Relationship With Late Stepson Brandon Blackstock – KNDU

    Reba McEntire Shares Emotional Tribute to Her Late Stepson Brandon Blackstock

    Sacramento city leaders approve adding 2 entertainment zones in midtown – CBS News

    Sacramento City Leaders Approve Two Thrilling New Entertainment Zones in Midtown

    AMC brings first new Dolby Experience to Gwinnett since 2017 – Wyoming News Now

    AMC Launches First New Dolby Experience in Gwinnett Since 2017

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    New technology for grading and packing dates – FreshPlaza

    Revolutionary Technology Transforms Date Grading and Packing Process

    Project underway to upgrade technology on 911 towers in Kanawha County – WCHS

    Kanawha County Launches Major Upgrade to 911 Tower Technology

    Next steps: Technology opens new options for greater mobility – Missouri Independent

    Next Steps: How Technology is Opening Exciting New Doors to Greater Mobility

    Rydberg Technologies Inc. Announces Launch of Rydberg Photonics in Berlin – The Quantum Insider

    Rydberg Technologies Launches Exciting New Photonics Division in Berlin

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

Baron Oil agrees farm-up for Timor-Leste PSC

December 26, 2023
in News
Baron Oil agrees farm-up for Timor-Leste PSC
Share on FacebookShare on Twitter

UK-based oil and gas company Baron Oil has signed a memorandum of understanding (MoU) with Timor Gap for the farm-up of the Chuditch production sharing contract (PSC) offshore Timor-Leste.

Illustration; Source: Baron Oil

Baron Oil announced a proposed assignment of a 15% working interest in the TL-SO-19-16 PSC offshore Timor-Leste to Timor Gap Chuditch Unipessoal, the existing joint venture partner on the PSC and a wholly owned subsidiary of Timor Gap E.P. the Timor-Leste National Oil and Gas Company.

Baron’s wholly-owned subsidiary SundaGas Banda Unipessoal entered into the MoU with Timor Gap. The terms of the MoU constitute a binding obligation on the parties to enter into the farm-up, subject to and conditional on the satisfaction of two conditions precedent.

Under the MoU, on completion of the farm-up, SundaGas, will retain operatorship and hold a 60% working interest in the Chuditch PSC, while Timor Gap will have a 40% interest, made up of a new paying 15% interest, plus its original 25% interest which is carried to first gas. Therefore, from completion, Timor Gap will be responsible for paying 20% of all costs, including the drilling of the planned Chuditch-2 appraisal well. In 2024, this contribution is estimated to be around $7.5 million.

On completion, SundaGas will also receive cash payments from Timor Gap which are estimated to be approximately $1 million relating to back costs covering the period from the signing of the PSC to the anticipated date of completion.

The farm-up agreements will be subject to two conditions precedent, including the approval by the Board of Directors of Timor Gap E.P. and the approval by Timor-Leste’s National Petroleum Authority (Autoridade Nacional do Petróleo or ANP).

The MoU shall terminate with immediate effect on the execution of the farm-up agreements or midnight on January 31, 2024, whichever is the earlier to occur, unless extended.

Baron’s directors consider that the farm-up by Timor Gap will have a value to Baron of approximately $8.5 million in reimbursement for prior costs and in the offset of future spend. Furthermore, the directors believe that the Timor-Leste Government’s validation and commitment will both support and progress the preparations for the planned Chuditch-2 appraisal well, as well as advance financing plans for Chuditch-2, where discussions continue with other potential funding partners.

The operational plan remains to drill and flow test the Chuditch-2 appraisal well in late 2024, subject to rig and drilling services availability and the completion of drill financing. A location has been selected for the drilling and significant progress has been made in preparation for the drilling campaign.

Posted: 26 days ago

The cost of the Chuditch-2 appraisal well is anticipated to be approximately $32 million, including the costs of a full production flow test, which is an updated amount. The previously indicated drilling cost estimate of $24 million was prepared in late 2021, before inflationary pressures and in a looser market for drilling services in the region and earlier indications also excluded mobilization and certain other costs.  

With Timor Gap’s commitment via the MoU for the farm-up, SundaGas will seek to advance discussions and assessments of suitable rigs, equipment and personnel. On entry into contract year three of the PSC, the commitment will be to drill an appraisal well within 12 months.

“We are delighted with, and greatly appreciate, TIMOR GAP’s decision to increase its participation in the Chuditch PSC through a paying interest. The proposed Farm-Up is a major step forward, as it provides validation of the project as well as bringing in an early funding partner for the appraisal programme. It also reflects the Timor-Leste Government’s commitment to the development of the country’s petroleum resources and its support for our efforts,” said Andy Yeo, Chief Executive of Baron Oil.

“From here, we will advance our drilling planning for the appraisal well which will include discussions with other potential funding partners. With this proposed Farm-Up, we move a long way forward towards drilling Chuditch-2, whilst retaining operatorship and a majority interest in the PSC.” 

Located approximately 185 kilometers south of Timor-Leste, 100 kilometers east of the producing Bayu-Undan field, and 50 kilometers south of the Greater Sunrise potential development, the Chuditch PSC covers an area of approximately 3,571 km2, in water depths of 50-100 meters, and contains the Chuditch-1 gas discovery drilled by Shell in 1998.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : OffshoreEnergy – https://www.offshore-energy.biz/baron-oil-agrees-farm-up-for-timor-leste-psc/

Tags: AgreesBaronnews
Previous Post

UTM Offshore making strides towards Nigeria’s first indigenous floating LNG project

Next Post

Floating solar and wave energy projects grab a slice of $88M Energy Catalyst funding

How to watch the 2025 MLB World Series: Dodgers vs. Blue Jays game schedule, channels, streaming, when is Shohei Ohtani starting and more – Yahoo Sports

Ultimate Guide to Watching the 2025 MLB World Series: Dodgers vs. Blue Jays Game Schedule, Channels, Streaming, and Shohei Ohtani’s Start Time

October 24, 2025
A circular economy approach for the global lithium-ion battery supply chain – Nature

Revolutionizing the Global Lithium-Ion Battery Supply Chain Through a Circular Economy Approach

October 24, 2025
CNN Launches New Show – What to Know About Host Elex Michaelson – Central Oregon Daily

Get to Know Elex Michaelson: The Dynamic New Host Taking CNN by Storm

October 24, 2025
Idaho Medicaid mental health contractor to cut doctor pay rates by 4%-15% – Idaho Capital Sun

Idaho Medicaid Mental Health Contractor to Cut Doctor Pay Rates by Up to 15%

October 24, 2025
Syracuse University declines signing Trump’s higher education compact – Spectrum Noticias

Syracuse University declines signing Trump’s higher education compact – Spectrum Noticias

October 24, 2025
Inventing habitats – High Country News

Building Tomorrow’s Habitats: Breakthrough Innovations Transforming Our Future Environments

October 24, 2025

Enhancing Nucleic Acid Biosecurity to Counter Advanced Generative Protein Design Tools

October 24, 2025
Science Says Optimistic People Live Up to 12 Years Longer. Here’s How You Can Be More Positive, Hopeful, and Confident – Inc.com

Unlock a Longer Life: Discover How Cultivating Optimism Transforms Your Health and Happiness

October 24, 2025
Fall River Eats: Eskimo King closes for season; Table for Two special at Fall River Grill – Yahoo

Eskimo King Closes for the Season – Enjoy the Irresistible Table for Two Special at Fall River Grill!

October 24, 2025
New technology for grading and packing dates – FreshPlaza

Revolutionary Technology Transforms Date Grading and Packing Process

October 24, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (884)
  • Economy (906)
  • Entertainment (21,777)
  • General (17,784)
  • Health (9,947)
  • Lifestyle (918)
  • News (22,149)
  • People (906)
  • Politics (916)
  • Science (16,116)
  • Sports (21,405)
  • Technology (15,885)
  • World (889)

Recent News

How to watch the 2025 MLB World Series: Dodgers vs. Blue Jays game schedule, channels, streaming, when is Shohei Ohtani starting and more – Yahoo Sports

Ultimate Guide to Watching the 2025 MLB World Series: Dodgers vs. Blue Jays Game Schedule, Channels, Streaming, and Shohei Ohtani’s Start Time

October 24, 2025
A circular economy approach for the global lithium-ion battery supply chain – Nature

Revolutionizing the Global Lithium-Ion Battery Supply Chain Through a Circular Economy Approach

October 24, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version