Bass reports sharp increase in oil output in Tangai-Sukananti KSO

By Romel S. Gurky

ASX-listed Bass Oil Limited reported Friday a significant uplift in production at the Tangai-1 well in Tangai-Sukananti KSO located in South Sumatra, subsequent to the removal of scale restriction in the Tangai-1 flowline as part of the field optimization program recently initiated at the KSO.

The company said in a statement that production has increased from 50 to 150 barrels of oil per day as a result, with scope for additional increases in extraction rates from the well over the coming months.

Bass said it continues to expand its field optimization program, and as such will be mobilizing a workover rig to the KSO this month to commence pump maintenance at Bunian-1 and Tangai-3, followed by a tubing repair and pump installation at Bunian-4. Bass anticipates further production uplift as a result, and will report the quantum of the rate increases once flow has stabilized.

Elsewhere, Bass said production during the month of August continued strongly, which positively reflects the field optimization work being undertaken this quarter. Production totaled 18,590 barrels of oil (100% JV Share) or 10,225 barrels (net to Bass) which represents a strong 4.6 percent uplift compared to the previous month. Total oil sales in August equaled 18,430 barrels of oil (100% JV Share) or 10,137 barrels (net to Bass), at an average price of US$47.08 per barrel, a notable 6.4 percent increase on last month.

Bass acquired in February Cooper Energy?s 55 percent interest in the Tangai-Sukananti KSO.

Editing by Reiner Simanjuntak