NOPSEMA recently shut down production from the Laminaria and Corallina oil fields (in close vicinity to Buffalo). The operator Northern Oil & Gas (a subsidiary of Timor Sea Oil and Gas Australia) is under liquidation. The admin KPMG has put Northern Endeavour FPSO for sale, I think this is a great opportunity for CVN to buy Northern Endeavour FPSO at scrap rate and use it for Buffalo production (IMHO I assume Timor Leste regulator won't have much issue with the "degraded state" of the vessel).
CVN could also consider buying Laminaria and Corallina production asset (last reported production 5000 BOPD) is better than the Buffalo "attic oil"
NOPSEMA recently shut down production from the Laminaria and...
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