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PXP will do the heavy lifting. I can’t get my head around our financial and technical support. Very interesting developments.

I think this news hasn’t properly been digested by the market. It’s much bigger than it seemed initially.

I agree. Imagine two low risk projects targeting very large gas volumes running in tandem. Not impossible.

The Philippine government sound like they want these fields explored and developed ASAP. This story could start to gain traction. But first we need the award. No competition it seems.

Our friends in Pacific LNG might make an appearance.

Exploration and development in the new year. Might be a project running parallel with Chuditch.

Sounds pretty much in the bag. A big win for Sunda if so.

BIDS FOR PETROLEUM EXPLORATION IN BARMM UNDERGO INITIAL JOINT SUBSTANTIVE EVALUATION

MAKATI CITY — Following the opening of bid applications for petroleum exploration in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), the Technical Working Group (TWG) of the Joint Review and Evaluation Committee (J-REC) began the initial substantive evaluation of the submitted Petroleum Service Contract (PSC) applications yesterday, August 29.

The TWG from the National and Bangsamoro Governments scrutinized bid applications from PXP Energy, SundaGas Ltd, Philodrill Corporation, Triangle Energy Global Limited, and DML Mineral Resources Corporation to determine whether they comply with the technical, legal, and financial qualifications for petroleum exploration. These bids already passed the completeness check of requirements that was performed during the bid opening.

MENRE Bangsamoro Director General for Energy Nasiri B. Abas said that “the awarding of Coal Operating Contracts and Petroleum Service Contracts in the BARMM represents a critical step in strengthening our energy security.

Adhering to the set timeline, the J-REC targets to complete the comprehensive bid evaluation of COC applications in the fourth quarter of 2024 and shall recommend to the Department of Energy Secretary and MENRE Minister for signing and awarding before the end of the year. For the PSCs, both the DOE Secretary and MENRE Minister shall endorse the recommendation to President Ferdinand R. Marcos, Jr. for the signing and awarding of PSCs for the identified Pre-Determined Areas.

Pre-Determined Areas for Petroleum in the BARMM will undergo exploration and development as soon as the PSC is awarded to qualified bidders. Three (3) PDAs were identified during the launching of the Conventional Energy Bid Round—one in the Cotabato Basin and two in the Sulu Sea Basin.

https://www.facebook.com/share/4WxM8BA6QMJbkXuN/?mibextid=WC7FNe

Cheers Eddie. Was surprised no one picked up on it at the time. Considering PXP are the number one Philippine energy explorer, plus another local smaller company in there, this bid looks like it could well go through. It’s a bit of a coup for Sunda to be in there. Too early to bother with now, but in time, if won, it would be a big deal.

The Energy Circle (IN-VR) piece is probably the most comprehensive and informative article promoting Sunda and the Chuditch project. IN-VR work both with the TL government and their energy related companies. This article could only have been written in collaboration with Sunda Energy. The article states “Sunda Energy brings renewed expertise, technological advancements, and financial backing to the table”, plus “processing will likely take place at a central facility, to remove impurities before the gas is compressed for export”. I’m getting the impression this project is much further down the road than AB is stating publicly. That together with PLNG’s Matt Sutcliffe all smiles meeting with the energy minister discussing Chuditch gas processing, (no doubt part due diligence). And not forgetting the minister confidently describing the two companies as both drilling Chuditch.

https://www.energycircle.org/articles/sunda-energy-to-begin-drilling-at-chuditch-2-timor-lestes-next-big-step-in-gas-exploration

Facebook. The day of the announcement. Ps. I posted it here plus the link😉

Eddie, The ministry of the Environment official FB page says the same thing.

https://www.facebook.com/share/YjDBCvp2g96ATPje/?mibextid=WC7FNe

It’s very much on the back burner and not even certain to happen but strange bedfellows and an odd choice of asset to chase.

PXP Energy takes in Aussie, UK partners in Sulu Sea petroleum bids

According to highly-placed sources, PXP Energy has submitted offers for Blocks 2 and 3 for  coveted service contracts (SCs) in the Sulu Sea basin – and that was done via a consortium with Australian firm Triangle Energy, UK company Sunda Energy and local partner Philodrill Corporation.

Triangle Energy, in particular, is touted as a deeply-entrenched oil and gas exploration and production (E&P) company with operations in the Perth Basin of Western Australia.

London-headquartered Sunda Energy (formerly Baron Oil), on the other, has petroleum service contract for the Chuditch gas field development in Timor Leste; and has also been growing its upstream investment portfolio in the Southeast Asian region.

PXP Energy and Philodrill are considerably long time players in the E&P sector of the Philippines; with the former primarily setting its sight on exploration and development of targeted hefty gas reserves in the Recto Bank.

At the Sulu Sea basin, data from the DOE had shown that drilling in the area had already surpassed 40 wells; and despite anticipated massive potential for oil and gas reserves, further investments are still needed to bring prospects to commercial fruition.

The last big-ticket investor which wagered $400 million capital outlay for petroleum exploration at a block in Sulu Sea basin had been American energy giant Exxon,  although the final outcome of its venture had not been enough to merit commercial scale development.

What Comes Next?

The Chuditch-2 project is just one piece of a broader strategy for Timor-Leste as it works towards energy independence. As the country begins to tap into this resource, it is also looking ahead to other projects.

The success of Chuditch-2 could inspire further exploration in other offshore fields, such as Greater Sunrise, which contains an estimated 5.13 TCF of gas. By developing these fields, Timor-Leste can ensure that its energy sector remains a reliable and sustainable source of revenue for decades to come by exporting to the energy-hungry markets in Asia.

A Future Full of Promise

Looking ahead, one thing is clear: Timor-Leste is no longer just imagining what could be—it’s taking concrete steps to shape its future. The Chuditch-2 project marks an important accomplishment in this journey, as the nation works to ensure that its valuable natural resources are used in ways that will benefit its people, not just today, but for generations to come.

But this is about more than gas exploration. It’s a story of a young nation determined to rise, to grow, and to create new opportunities for its citizens. As Chuditch-2 progresses, the potential impacts stretch far beyond the energy sector—touching on everything from education and healthcare to jobs and infrastructure.

What will this project mean for Timor-Leste in the years ahead? While time will tell, one thing is certain: the country is forging its own path, and it’s a journey worth watching closely.

Understanding the Technical Process

For those not familiar with the ins and outs of the oil and gas industry, drilling for natural gas is a complex and highly technical process. Sunda Energy will be using state-of-the-art drilling rigs, capable of operating in deepwater conditions. Chuditch-2 is located in water depths of around 90-100 metres, and drilling to reach the gas reserves will require careful planning and execution. The company will utilise semi-submersible rigs, floating platforms anchored to the seabed. These rigs are designed to remain stable, even in the harsh conditions of the Timor Sea.

One of the important challenges—not just technical but environmental—is ensuring the safety and sustainability of the operation. Strong currents and unpredictable weather patterns in the Timor Sea present obstacles that need careful monitoring. Sunda Energy will deploy advanced systems, including real-time data monitoring and blowout preventers, to mitigate these risks and maintain environmental standards. The success of the project depends on careful execution and management, ensuring that the benefits of gas extraction do not come at the expense of the environment.

Once the gas is extracted, it still needs to be processed and transported. Processing will likely take place at a central facility, to remove impurities before the gas is compressed for export. Geography also favours Timor-Leste, located close to high-demand markets like Australia, Japan, and South Korea, adding a lucrative dimension to the Chuditch-2 project.

The Promise of Chuditch: Not just another Gas Field

The Chuditch gas field is located in the Timor Sea, about 185 kilometres south of the Timor-Leste mainland. It was discovered during the early stages of energy exploration in the region, with initial estimates suggesting that it held substantial natural gas reserves. In fact, Chuditch-2—the well set to be drilled by Sunda Energy—targets a potential 2.4 trillion cubic feet (TCF) of recoverable gas. That’s no small find. For comparison, such reserves could power millions of homes and industries for decades to come.

Introducing Sunda Energy

At the heart of the Chuditch-2 development is Sunda Energy, an international oil and gas company with all the requisite expertise in deepwater drilling and exploration.

Sunda Energy brings renewed expertise, technological advancements, and financial backing to the table. These elements were missing back in the late 1990s, but now they provide the foundation for what many industry insiders say will be a successful and transformative project. 

Looking ahead, Andrew Butler, CEO of Sunda Energy, highlighted the company’s -ambitions: “Going forward, if the reprocessed data merits it, we would like to drill an appraisal well, which is an obligation on the Chuditch discovery. But we would also like to drill at least one additional exploration well to establish the presence of gas resources in adjacent features. We would effectively be looking at a cluster development for all that gas."

Sunda Energy will take on the challenges of deepwater drilling, ensuring that the project is both safe and economically viable.

I’m not negative. Plus, I have great confidence in the TL leadership. They are transforming their economy and rightly demanding the pipeline comes to Timor. It’s up to Woodside to say yes. I hope they continue to build the infrastructure to process gas from Chuditch and any future Sunrise development. Their support for Sunda and their involvement through Timor Gap isn’t just welcome. It probably saved us from going under. We should be grateful. Timor politics has absolutely nothing to do with our current share price and everything to do with a crazy dilution followed by constant trading and as yet, still unresolved matters of funding plus a drill which is still some way off. Relax and give this project the time it needs to establish itself more fully.

Other companies mentioned spoear to be small to medium size explorers/ producers.

This is a nice side issue to have in the background. The real business at hand is Chuditch and we look forward to big announcements on further progress. AB is keeping the news flowing. Extremely productive CEO.

PETROLEUM EXPLORATION IN BARMM ADVANCES AS NAT’L, BANGSAMORO GOVERNMENTS PROGRESS WITH ENERGY BID ROUND

MAKATI CITY — The pilot Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Conventional Energy Bid Round for Petroleum Service Contracts was opened by the National and Bangsamoro Governments yesterday, August 27, after joint promotional campaigns drew submissions of bid applications from potential investors for the three (3) Pre-Determined Areas for Petroleum in the BARMM (PDA-BP).

In May this year, the NG and BG also launched the 1st BARMM Conventional Energy Bid Round for Coal Operating Contracts (COC), which brought the nation closer to coal exploration in the Bangsamoro region. For petroleum exploration, PXP Energy, SundaGas Ltd, Philodrill Corporation, Triangle Energy Global Limited, and DML Mineral Resources Corporation submitted their bids. The opening of bid applications represents substantial progress for the BARMM’s upstream petroleum industry and the country’s as well

https://www.facebook.com/share/p/Wg2AUeTmgGF94arb/?mibextid=WC7FNe

Previously discovered field. Low risk. Result of bid, end of year. Sunda punching above their weight. Echoes of Chuditch. Other companies will give the bid credibility. If we get it. It’s icing on the cake. The real prize remains Chuditch. This is a possible bonus. Great work, Eddie.