MELBOURNE, Aug. 4 -- AED Oil Ltd.'s Puffin oil field in the Timor Sea has produced 1.6 million bbl of oil and $67 million (Aus.) in revenue during the 2007-08 financial year.
The company plans to begin a drilling program in August to enhance production further.
The Wilcraft jack up rig will drill Puffin-11 exploration and appraisal well in Southwest Puffin and Puffin-12 development well in Northeast Puffin.
Puffin-11 will be a deviated pilot hole for an initial evaluation of the reservoir and, if successful, it will be followed by a short lateral section across the crest of the structure. The idea is to deviate the well south of the bounding fault system to a location updip of Puffin-9, which has proven oil columns in two reservoir sands (LK1a and UK1a).
Puffin-12 has a primary objective to drill and complete a 200 m thickness of reservoir in the LK1a sand at that location. It will then be tied back to the existing manifold at Puffin-7 and Puffin-8 and thence to the Front Puffin floating production, storage, and offloading vessel via the existing subsea system.
The drilling program is expected to take 100 days and cost $108 million (Aus.).
AED holds 40% of the project, and Chinese company Sinopec has 60%.