Timor Resources strikes oil, gas in Timor-Leste
Privately-owned Timor Resources has made an oil and gas discovery in Timor-Leste with the first of two planned onshore exploration wells, it announced on December 21 via a LinkedIn post.
“The discovery comprises oil and gas and represents the first find from the contract area,” it said. “The exploration well was drilled after new insights from the onshore seismic survey, completed by Timor Resources in 2018-2019.”
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Timor Resources is the operator with state-owned Timor Gap as a joint venture partner. The rig has moved to the next well location, in readiness to spud the second exploration well before Christmas, the company said.