Sunda Vitality’s subsidiary, SundaGas Banda Unipessoal, has entered right into a non-binding Letter of Intent (LOI) with a world drilling contractor for the usage of a jackup drilling rig for the appraisal drilling marketing campaign on the Chuditch Discipline, offshore Timor-Leste.
Signature of the LOI permits Sunda Vitality to progress regulatory approvals for the usage of the jackup rig in Timor-Leste, together with the preparation of the required drilling security case and different marketing campaign particular documentation, in compliance with relevant legislation in Timor-Leste. The rig is predicted to finish its ongoing work within the area earlier than changing into obtainable for Chuditch appraisal drilling in Q2 2025.
“As we speak’s information of this Letter of Intent is a crucial step in the direction of our forthcoming appraisal drilling marketing campaign on the Chuditch Discipline,” stated Dr Andy Butler, CEO of Sunda Vitality. “We’re happy to be working with a number one offshore drilling contractor that may present us with a rig that meets all our required specs.”
The entry into the definitive Settlement might be topic to plain situations together with obligatory regulatory approval by Autoridade Nacional do Petróleo (ANP), the upstream regulator appearing on behalf of the Ministry for Petroleum and Mineral Sources of Timor-Leste. SundaGas is liaising carefully with ANP in its drilling preparations and is dedicated to making sure the Chuditch appraisal marketing campaign is carried out according to the work program and finances authorized by ANP.
