The company has announced that it has completed an initial review of the fast-tracked processing volume of the Rafael 3D seismic survey over its Rafael conventional gas and condensate discovery.
“I am very pleased with the initial indications of a very significant step up in data quality of the Rafael 3D seismic survey, and the early insights gleaned from it in such a short period of time following survey acquisition,” Buru Energy chief executive officer Thomas Nador said.
“These early results are consistent with our previous interpretations, and indeed we have observed encouraging signs both in terms of the Rafael structure as well as regional prospectivity.”
Early interpretation insights from the wider 3D data set outside the Rafael structure also show encouraging prospectivity including areas that were not apparent on the vintage data. These areas have the potential to provide material backfill opportunities to a Rafael development as well as other commercialisation options.
Final seismic survey products are on schedule for delivery to Buru by the end of February 2024, which will allow for a more detailed interpretation of the Rafael reservoir packages than the very encouraging initial insights seen on the fast-track processed volume.
The fast-track volume data quality improvement has met one of its principal objectives in assisting to locate optimal appraisal well locations to reduce geological and drilling risks.
Rafael appraisal and development partner selection activities remain on track, with several interested parties undertaking due diligence of the Rafael discovery and Buru’s adjacent exploration permit areas.