Thai oil and gas company PTTEP has made a gas and condensate discovery at the Orchid-1, the first exploration well in Permit AC/P54 located in the Timor Sea, Australia.
Spudded in January 2019, the drilling of the Orchid-1 was undertaken to a total depth of 2,925 meters.
The well encountered gas and condensate with the net pay thickness around 34 meters.
“The result is in line with PTTEP’s expectation and will be incorporated into development planning of Cash-Maple field which contains 3.5 TCF of resources,” PTTEP said.
The well was reportedly drilled by Transocean’s GSF Development Driller I semi-submersible drilling rig.
AC/P54 is an exploration permit under PTTEP Australasia project which comprises Permits AC/L3, AC/RL4, AC/RL5, AC/RL6, AC/RL7 (Cash-Maple field), AC/RL10, AC/RL12 and AC/P54 in the Timor Sea off northern Western Australia.
According to data on PTTEP Australasia website, the project is currently in the preliminary concept stage, which includes considering both conventional Liquefied Natural Gas (LNG) and Floating Liquefied Natural Gas (FLNG) options. Full development of the gas fields will require a multi-billion dollar investment.
Offshore Energy Today Staff