PetroNeft Resources plc, owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, provides an update on its operations at Licence 61.
Highlights:
· Year-round production commenced on Licence 61 in Tomsk Oblast
· Production of 4,000 bopd expected by end 2010
· Seventh production well encounters thickest net oil pay to date
First Oil
Construction of production facilities has been completed and production has gradually been commenced from four wells. Field production has been 1,100 bbls of oil in the first two days of production and flow rates are expected to increase as drilling fluids are cleared out and the electric submersible pumps are optimised. Three additional wells will be brought on production over the coming week.
Eleven wells are scheduled to be on production at the end of the year and PetroNeft anticipate meeting their year-end production target of 4,000 bopd. In January 2011, when a crew can be mobilised on winter roads, a programme of hydraulic fracture stimulation will commence in order to achieve the maximum production levels and enhance oil recovery.
Current oil production is being used to complete the commissioning of the oil processing facilities and is filling the oil storage tanks at the facilities site and will commence filling the 60 km pipeline to the Kiev-Eganskoye transfer point shortly.
Development Drilling
Drilling of the seventh of the planned nine production wells at the Lineynoye oil field has now been completed ahead of schedule. Preliminary log and survey data indicate that the well encountered the thickest net pay to date in the development programme.
UK
A reservoir engineering study on the West Firsby Field is now complete. The work undertaken on West Firsby has highlighted the potential for significant unswept oil. These additional reserves will be targeted by the next well.
The workover programme on Crosby Warren and West Firsby is now complete with WF6 remaining to come back onstream in the near future. An update on production will be provided in September along with a reserves update for West Firsby.
Following the production testing of the Hykeham-1 well, it is anticipated the well will be plugged and abandoned.