Afren Updates on Iraqi Operations

Posted by on Nov 02, 2013 | Leave a Comment

Shares in Afren were trading up more than 3 percent on Thursday afternoon following the release of the company’s Interim Management Statement, which included the following update on its Iraqi operations:

Barda Rash

On 8 July 2013 Afren commenced preliminary crude oil sales from the Barda Rash PSC to the local market. Gross average production has been ramped up from the initial 1,300 bopd to approximately 2,000 bopd currently.

The Partners commenced drilling on the BR-5 well in Q1 2013 using the Romfor-23 drilling rig which is currently drilling ahead at around 11,266 ft. The Partners also commenced drilling the BR-4 in May using the Viking I-10 rig, which is currently drilling ahead at around 10,853 ft. The wells are testing the Cretaceous, Jurassic and Triassic reservoirs previously identified on the structure.

Ain Sifni

During the first half of 2013, Operator Hunt Oil completed testing of the Simrit-2 well with aggregate flow rates of 19,641 bopd achieved from the planned Drill Stem Test (DST) programme. The Mus/Adaiyah reservoirs are currently being produced as part of an Extended Well Test (EWT) programme to better understand reservoir performance. Produced crude is being trucked to local markets.

The Simrit-3 well, exploring the eastern extent of the large scale Simrit anticline reached a final maximum depth of 12,300 ft in the Triassic Kurra-Chine formation in 1H 2013 encountering hydrocarbon bearing intervals in the Cretaceous, Jurassic and Triassic reservoirs. A multi-zone testing programme has been completed and the well has been configured as a produced water disposal well.

A total of 9 DST’s were carried in the Triassic, Jurassic and Cretaceous reservoirs reaching a cumulative rate of 6,293 bopd. Of the 9 tests, the Kurra Chine reservoirs produced at rates of 6,043 bopd 36° API gravity crude oil with 4.1mmscfg/d on a 64/64th choke with a WHP of 645 psi. The test of the Mus/Adaiyah produced 250 bopd of 14°API gravity but confirmed the petrophysical interpretation that an Oil Water Contact (OWC) had been intersected by producing 1,164 bwpd with the oil when flowed to surface.

The Cretaceous heavy oil reservoirs did not deliver oil to surface using conventional testing methodology. Reprocessing of the Simrit 3D seismic data is underway so that the well data can be integrated with the updated structural understanding and volumetric estimates upgraded. The rig is currently being mobilised to the Maqlub-2 location.

Operator Hunt Oil spudded the Maqlub-1 well testing the high potential Maqlub structure in June 2013. The drilling programme is expected to last 110 days. The Maqlub structure is located adjacent to the Barda Rash PSC and will be testing the Cretaceous, Jurassic and Triassic reservoirs. The well is currently drilling ahead in the Jurassic reservoirs at 6,995 ft. To date hydrocarbons have been encountered in the Cretaceous and Jurassic reservoirs as confirmed by wireline, Logging While Drilling (LWD), cuttings and gas data.

Commenting today, Osman Shahenshah, Chief Executive of Afren plc, said:

“Our strong financial performance, with revenue of US$ 1.2 billion, is underpinned by a year-on-year increase in production of 18 per cent. We expect full year production to be at the upper end of guidance of 40,000 to 47,000 barrels of oil equivalent per day.

“We continue to build an excellent exploration track record with more successful wells in Nigeria and the Kurdistan region of Iraq, notably the play opener south of Lagos. I am confident that with our track record of project delivery, exploration success and financial discipline, we are well placed to continue to realise significant value from our existing portfolio and for our shareholders.“

comment closed

Advertisement

Subscription

You can subscribe by e-mail to receive news updates and breaking stories.

Archives

 

October 2017
M T W T F S S
« Dec    
 1
2345678
9101112131415
16171819202122
23242526272829
3031