More news today regarding Bualuang (SIA 40%) from partner Salamander:
Both horizontal wells, BA-11H and BA-12H, have been completed in the crestal
area of the field with downhole electric submersible pumps and expandable sand
screens. Both wells consist of approximately 250 metre horizontal sections in a
target zone 2 - 3 metres below top reservoir. Both have now been brought
on-stream and the pump rates increased slowly to bed in the sand screens, clean
up the wells and determine well productivity, which is significantly ahead of
pre-drill estimates in both cases.
Production rates have been tested at over 18,000 barrels of oil per day
("bopd"), however the two horizontal producers are to be choked back to produce
at a rate of circa 14,000 bopd, which is the optimal rate for reservoir
management and reserves recovery.
James Menzies, Chief Executive of Salamander, commented:
"The successful completion of this Salamander operated drilling programme has
resulted in a step change in production from the Bualuang oil field from these
highly productive horizontal wells, from circa 6,000 bopd to over 14,000 bopd.
Their performance will be monitored and incorporated into full field dynamic
modelling, to better understand the ultimate recoverable reserves of the field.
A rate of 14,000 bopd was the orginal target for production at Bualuang but they had lowered the target to c 11,000 after the initial production experience - so.....good news.
There won't be an RNS from SOCO, I guess, but it should help production rates up to 10,000 or so, which I'd guess will part of an update to given at the AGM [which is on 10th June].