TL-SO-19-16 PSC, Democratic Republic of Timor-Leste
SundaGas’ wholly owned subsidiary, SundaGas Banda Unipessoal, Lda (“SundaGas”), signed the TL-SO-19-16 PSC with the Autoridade Nacional do Petróleo e Minerais (“ANPM”) on 8 November 2019, in partnership with TIMOR GAP Chuditch Unipessoal, Lda. , a wholly owned subsidiary of Timor Gás & Petróleo, E.P., the national oil company of the Democratic Republic of Timor-Leste.
SundaGas holds a 75% operated working interest in the PSC,
The TL-SO-19-16 PSC is located approximately 185 kilometres south of Timor-Leste, 100 kilometres east of the producing Bayu-Undan field and 50 km south of the planned Greater Sunrise development. The PSC covers approximately 3,571 km2, in water depths of 50-100 meters. It contains the Chuditch-1 gas discovery, which was drilled by Shell in 1998 and encountered a 25m gas column in the Jurassic Plover formation. SundaGas consider that the Chuditch field contains material volumes of sales gas, with significant upside within and adjacent to the discovery itself, and in multiple exploration prospects and leads that have been identified along trend.