Italy’s Eni has been awarded a new exploration Production Sharing Contract (PSC) covering an area adjacent to the Kitan field in the Timor Sea. The PSC covering an area of 662 sq km specifies a commitment to drill two exploration wells during the first two years, and separate options for the drilling of two contingent wells.
The contract area lies within the joint petroleum development area (JPDA), which is administered by both Australia and Timor-Leste. Average water depth in the area is 350 m (1,148 ft), ranging up to 500 m (1,640 ft). In the JPDA Eni has identified a number of oil prospects that could be taken advantage of in conjunction with the nearby producing Kitan field, in any discoveries are made.
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