Kufpec's Oseil field production to increase to 18,000 BPOD

Australian-listed oil company Kalrez Energy Limited said on Tuesday the production at Oseil field in Seram Non-Bula PSC, Maluku would increase to the higher rate of 18,000 barrels of oil per day (BOPD) when it came into production next month due to the improvement at Oseil-2 well.

Kalrez said the sidetrack well at Oseil 2 had resulted in a stable flow rate of 7,000 BOPD.

This is a significant increase from the initial flow rate in 1998 for Oseil 2 of between 630 BOPD and 2,263 BOPD, Kalrez said in a statement.

Oseil oilfield previously is planned to produce at rates of 12,000 BOPD.

Kalrez said accompanying the oil flow was a gas flow of 0.8 - 1.2 millions of cubic feet per day.

Meanwhile, Kalrez said the Oseil-4 well completion program continues utilising its Rig 482. Currently the completion string is being run into the well.

The Seram (Non-Bula) PSC, where Oseil filed is located, is operated and 97.5 percent owned by Kuwait Foreign Petroleum Exploration Company (Kufpec), while Kalrez holds the remaining 2.5 percent. (robert)