Canada’s TransGlobe Energy Corporation will begin production from Yemen’s Tasour 7 well from the Tasour field on Block 32. The field is producing at a record level of 15,591 barrels of oil per day (bpd), of which 2,153 bpd goes to TransGlobe.
The Company expects that the Tasour field will produce near current levels until additional wells are drilled in the first two quarters of 2003. TransGlobe is revising its 2002 cash flow estimate upwards to $7.6 million. The revision is due to higher than anticipated oil prices, the exceptional production performance of the Tasour field and expected increased production with the addition of the Tasour 7 well.
The Tasour 7 step out well was completed and tied in as a multi-zone producing oil well. The well was completed and placed on production at 8,501 bpd, which is the capacity of the pump. The Tasour 7 well encountered the main upper Qishn producing zone in a structurally higher position than the existing producers, thereby extending the field to the south to an area that was previously assumed to be below the oil water contact.
In addition to the full oil column in the main producing zone, the well also discovered a new pool in the Qishn sands below the main zone. The new zone is also being produced with the main upper Qishn reservoir.
Additional appraisal drilling of two-three more wells will be contingent on the production performance of Tasour 7 and re-mapping the main field extension. The new pool discovery will also be analyzed and may present additional drilling targets. The results from Tasour 7 are expected to increase the recoverable oil reserves for the Tasour Field.
The drilling rig has moved to a non-owned adjacent block for two-three wells as part of a multi-well, rig sharing contract to reduce costs. The drilling rig should be available to the Block 32 Joint Venture group in late December 2002.
TransGlobe is working with the Operator, DNO ASA, with the view to possibly drilling another infill well, Tasour 8, followed by an exploratory prospect at Al Ghoraf 1 on the western portion of Block 32. Additional development wells at Tasour will be considered for 2003.
Contingent upon successful drilling results and production performance, the installation of additional export pumps may be undertaken during 2003 to raise the export capacity to 25,000 bpd through the eight-inch pipeline connecting the Tasour central production facility to the Nexen export pipeline. If future wells at Tasour prove successful, it is TransGlobe's view that the total production for the Tasour field may reach more than 20,000 bpd, of which 2,760 bpd will go to TransGlobe during 2003.
Production from Block 32 was partially curtailed for three days following the offshore tanker incident at the Yemen port of Minah Al-Dabah on October 6. The production was curtailed to accommodate tanker rescheduling at the Nexen Masila terminal. Additional security has been implemented at the loading facility. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
