2nd Oct 2013 09:55
LONDON (Alliance News) - Ophir Energy PLC said Wednesday that it had successfully completed the Pweza-3 appraisal well and flow test in Block 4, Tanzania.
The Pweza-3 well was drilled around 2 kilometers north of the originally discovery well. A Drill Stem Test was performed and achieved an equipment-constrained flow-rate of 57 million standard cubic feet per day with minimal drawdown and no observable depletion after 5 days. The company said it expects the implied unconstrained flow rate to be over 150 million standard cubic feet per day.
Ophir holds a 40% stake in Block 1, 3 and 4 whilst BG Group operates with a 60% share.
The test results mean the company will be able to dramatically reduce the number of development wells required in Block 4, Ophir said, which would simplify its development plan.
Ophir also said it was moving its Deepsea Metro I drillship to Block 1 to drill the Mzia-3 appraisal well before drilling its high-impact Mlinzi prospect in Block 7. It said that due to the efficient, early completion of its Pweza-3 programme the next well in the sequence, Mlinzi Mbali-1, had advanced and it now expects it to be started in the second half of November.
Shares in Ophir were trading down 3.9% at 318.50 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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