Sinopec and AED strike oil at Puffin play in Timor Sea

Oct 01, 2008 02:00 AM

A joint venture between China's Sinopec and Australia's AED Oil has hit oil with the Puffin-11 exploration well in the south-west of the Puffin oilfield in the Timor Sea.
AED said the pair had successfully struck the oil bearing Puffin sand at 2,013 metres below sea-level and preliminary results signal that a column of movable oil exceeding 20 metres has been hit. The Australian outfit added that the rock quality, permeability and porosity are now being assessed.

Puffin-11 exploration well is the first of a two well programme, while the next well, Puffin-12 is, a development well in the north-east of the field near the Front Puffin floating production, storage and offloading vessel.
The two-well effort carries a cost of $ 103 mm. Oil output from Puffin averaged 3,777 bpd in the quarter to 30 June.

In October 2007, the field came on stream and peaked at 27,000 bpd but, one month later, water production started and equipment failed, sending output spiralling down. The Puffin-11 marks the first well on the field since the Chinese giant rescued the project and AED with its $ 560 mm farm-in for a 60 % stake in mid-June 2008, leaving AED with a 40 % interest.
The purchase included assets in blocks AC-P22, AC-L6 and AC-RL, including the Puffin and Talbot fields.

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