The Orchid-1 well, drilled by PTT Exploration and Production Public Co. Ltd. (PTTEP) subsidiary PTTEP Australasia (Ashmore Cartier) Pty Ltd., has discovered gas and condensate in the Timor Sea off Australia, according to a news release.
The well, which is the first exploration well in Permit AC/P54, was drilled to a total depth of 2,925 m. The well hit gas and condensate with the net pay thickness about 34 m, the release said.
Plans are for it to be incorporated into development planning of Cash-Maple Field, also located in Permit AC/P54, which contains 3.5 trillion cubic feet of resources.
The find, made in the Sakakemang block in South Sumatra, would translate into more than 350 million barrels of oil equivalent.
The P-76 platform is located in the Búzios Field within the pre-salt region of the Santos Basin offshore Brazil and is the second platform Petrobras has entered into operation so far this year.
The well was drilled south of the main Pecan Field in the Deepwater Tano Cape Three Points Block.