Timor GAP, the national oil company of Timor-Leste, has identified "world-class prospectivity" southeast of the island that the company believes to be a game changer for explorations in the region.
Located in the Timor-Leste Exclusive Area, Timor GAP was awarded block TL-SO-15-01 in December 2015. The block is midway between Timor-Leste and the Greater Sunrise gas-condensate field and is covered by modern broadband 2D and 3D seismic surveys.
The 2780sq km Crocodile 3D seismic survey which covers most of the permit area was acquired during 2016. In early 2017, a contract for a full prospectivity assessment including interpretation of the 3D seismic, AVO analysis, play analysis, prospect ranking and economics was awarded to CGG GeoConsulting.
According to initial results by CGG, the seismic data revealed the geology in the ‘subthrust’ zone beneath the northern slope of the Timor Trough. The data allows the imaging of more than 30 individual closed seismic structures at various geological levels, frequently stacked vertically, in 17 geographically distinct locations.
Timor GAP said further prospective resources have yet to be determined by CGG experts, but the size of structures suggests the potential for substantial hydrocarbon accumulations closer to Timor-Leste’s shoreline. This includes a previously unrecognized exploration fairway in intermediate water depths which provides several highly attractive exploration drilling targets.
The Crocodile project was funded by the Timor-Leste government through Timor Gas which holds 100% interest in the production sharing contract.