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Baron ups stake in Chuditch PSC off Timor-Leste
Apr 23, 2021 8:25:am
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by: Shardul Sharma
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Baron ups stake in Chuditch PSC off Timor-Leste
London-listed Baron Oil has increased its interest in the Chuditch gas discovery and prospects offshore Timor-Leste, it said on April 23.
Baron has increased its shareholding in SundaGas from 33.33% to 85%, and thereby increased its indirect interest in the Chuditch production sharing contract (PSC) from 25% to 63.75%. SundaGas was awarded operatorship of the Chuditch PSC in November 2019. Everything is in place to allow SundaGas Banda to undertake the PSC technical work programme activities, especially the critical 3D seismic reprocessing,” Andy Yeo, CEO of Baron said. “These works will enable an up-to-date assessment of the true potential of the Chuditch discovery and of the viability of drilling an appraisal well and further exploration wells in a timely manner.
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