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Brazil : BPZ Resources reopens A-14XD well in Albacora field.

BPZ Resources, an oil and gas company engaged in exploration and production, has announced that the A-14XD well in its Albacora field was reopened after receiving the required extended well testing and gas flaring permits.

The A-14XD well, which had an effective rate of production in the Q2 of approximately 1,510bbls of oil per day and averaged approximately 1,400bbls of oil per day during June, was shut-in on July 12, 2010.

The Extended Well Testing (EWT) and gas flaring permits are valid for six months and include limits on the amount of gas that can be flared during that period. The company believes that the allocated amount of gas to be flared under the permit should allow the well to be produced under the same conditions as before, for most, if not all, the permitted six month period.

The company intends to request an additional EWT period in due time to allow for the well to stay open until the appropriate gas reinjection equipment is commissioned. The company is already conducting the initial engineering study on the Albacora field to assess the equipment needs to inject the associated gas and efficiently transition the field into commercial production in order to minimize potential future production interruptions due to EWT regulations.

In addition, the company is awaiting a decision from the ministry regarding its previously submitted application for EWT permits for the six wells located in its Corvina field. Further updates to the permitting of these Corvina wells will be announced once notification is received from the ministry.

Copyright : Euclid Infotech Pvt. Ltd.

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Date:Jul 27, 2010
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