document: SundaGas and Timor GAP were awarded production sharing contract (PSC) TL-SO-19-16, located in the Bonaparte Basin, on 8 November 2019. The PSC has been awarded for a seven year period and will expire, or be eligible for renewal, in November 2026.  SundaGas is making its entry into East Timor with the award of 75% interest in the PSC and operatorship. Timor GAP, East Timor's national petroleum company, has been awarded the remaining 25% as joint venture partner.  Under the terms of the award, minimum work commitments have been assigned to the block. These include seismic reprocessing, of 800 sq km 3D and 2,000 km 2D in years 1-3, an exploration well and post well studies in years 4 and 5 and in years 6 and 7, development planning, plus two further wells: either exploration or appraisal.  The block contains the Chuditch gas and condensate discovery, which was made in November 1988, with reservoir encountered in the Plover Formation.  TL-SO-19-16, which covers an area of around 3,571 sq km, was awarded on 8 November 2019. Participants in the PSC are SundaGas (75% + Operator) and Timor GAP (25%).
summary: ANPM signed the PSC contract for Block TL-SO-19-16 with a JV between privately-owned SundaGas and national oil company Timor Gap.