Bass: Net production at Tangai-Sukananti KSO for September quarter down 2%
Friday, October 20 2017 - 02:30 AM WIB
ASX-listed Bass Oil Limited said on Friday that scheduled maintenance associated with the production optimization initiative at the Tangai-Sukananti KSO in Indonesia?s South Sumatra Province which commenced during the September quarter, resulted in a marginal 2 percent decline in production output, producing 28,853 barrels net to Bass.
Bass said in a statement it expected the disruption to field production due to workover and optimization to exhibit a one-off impact throughout the months of September and October only. Furthermore, following successful completion of the initial production optimization program, Bass forecasts production capacity of the field to increase beyond 700 BOPD.
Bass commenced a production optimization program during the September quarter aimed at increasing the field?s efficiency and total production capacity. The program consists of pump and flowline maintenance, upgrades and surveys which will have a temporary impact on the field?s production output however field capacity uplift is expected over the coming period subsequent to completion.
Late July, Bass successfully removed scale-restriction at the Tangai-1 well, subsequently realizing uplift in output of circa 100 BOPD. Bass have highlighted scope for additional increases in output at the well, subject to results from a planned bottom-hole pressure survey to be undertaken during October.
Bass expanded the optimization program in September, mobilizing a workover rig to the KSO to complete pump repairs at Bunian-1 and Tangai-3, followed by tubing repair and pump installation at Bunian-4.
?Late September, Bass shut-in the Bunian-1 well to enable the replacement of the down-hole pump, found to be operating with 30 percent efficiency. This was the primary contributor to the marginal decline in total field production for the quarter however the pump repair is forecast to increase future production capacity of the field in excess of 100 barrels of oil per day, moving forward,? the company said in the statement.
Bass said it will report the quantum of the rate increases at the respective wells, once workover is complete and flow has stabilized.
Bass acquired in February Cooper Energy?s 55 percent interest in the Tangai-Sukananti KSO.
Editing by Reiner Simanjuntak