RE: Valaris 247 Rig - per Ministry of Petroleum - Sundagas Chuditch been assigned Q4 slot18 Mar 2024 19:40
Only thing certain is Shell move it on to which ever it was, who also proposed to FLNG (never happened all know why) and fell off the listings going from OZ license , to reappearing in Nov 2019 as the bid round showcase non tender award to Sundagas for services rendered , developing their industry since 2016.
Shell FLNG , M? FLNG, Sundagas FPSO, all have pretty much adopted the same style of development for Chuditch, the only thing that has changed is , Timor Leste NOW have a NOC our partner (built by AB/Sundagas team, that has recently upped its game, with a commitment to fund further Chuditch development via the farm up, no longer an eternal free carry for them.
Can only take that, as an as yet unspoken Government approval of Sundagas plans, as they own and fund TG in full, with annual budget allowances and loans to be paid back to the SPW Fund, when they eventually get some production revenues of note, the largest loan being the $650m compensation to Shell and Conoco Phillips for their combined 56%
of Sunrise.
Recent declaration by TL Gov also for TG to do whatever it takes , to advance the onshore discoveries with OZ Timor Resources, so all indications, they are now prepared to pay their way on that one also.
Evidence continues to grow, they as we have all known for some time, need to compromise and get things moving now,
even if Sunrise is settled, its still many years away.
The TL Strategic Development plan SDP 2011-2030 , was for the development of all the other sectors in preparation for the end of Oil and Gas revenues, well those Kitan oil and Bayu gas, have been cashed in , depleted and gone and it's an awful long way to 2030/31 (latest Sun/Beaco tenders)
Chuditch could be once more like the bid round , be the showcase and key to their immediate fortunes bringing together plans for , National plans for Electricity and Gas/Lng fired (3) power stations (conversions from Diesel) , the Northern plan Metinaro Petroleum Import Terminal PIT, including TL Gas/LNG Import facilities and 90-120 day domestic security tank farm. PM Rauk targeted for 2025/26.
Fid Metinaro Feb 2023 , to be by end of 2023 or IN Q1 at the latest (NOW), Someone has to supply it, Chuditch offtake?
Sunrise years away and PIT pulled from original Southern project plans to co-locate at Beaco, to Metinaro near the capital Dili and 2 of the 3 Island power stations up on the North Coast. 🤔