Buru Energy’s Rafael 1 well gas condensate discovery is being prepared for a production test amid a potential wet gas discovery.
The Rafael 1 well is locating in exploration permit EP 428 in the Canning Basin, northwest Western Australia, approximately 50 km east of the Ungani Oilfield. 50 per cent of the equity is held each by Buru Energy and Origin Energy.
The company reported that a substantial accumulation of wet gas is potentially present in the Rafael structure, but a production test to gather more information is required to explore the possibility.
Buru’s executive chairman Eric Streitburg said the company is taking a “methodical and considered” approach to the discovery.
“Subject to further analysis of data to hand, and to the results of the impending production test, the Rafael discovery has the potential to be a very material wet gas accumulation in conventional high quality dolomite reservoir, with very low CO2 content in the gas,” Streitburg said.
“[We] intend to waste no time in commercialising the resource if its potential is realised.”
Streitburg said due to Buru operating in the Basin for “many years” the company has a “deep understanding” of the operating and stakeholder environment.
“Our extensive studies of the commercialisation pathways for gas in the Canning Basin have also given us a good understanding of how a resource can be monetised,” he said.
“The commercial value of a gas resource is considerably enhanced if the field is large and contain a conventional high flow rate reservoir with high pressure and significant liquids content, as we hope Rafael is confirmed to be.”
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