Matrix begins well development in N. Sumatra oil project

Australian oil firm Matrix Oil NL said Friday that development activities continued in the Langsa Technical Assistance Contract (TAC) area, offshore North Sumatra, as the company implemented the final phase of its development program with a focus on first oil production by late November 2001.

During the week, said Matrix, re-entry and completion work started on the first of the three designated development wells, while the Floating Production Storage and Offtake (FPSO) vessel, specifically designed for the project, was commissioned in Singapore.

According to matrix The FPSO will now undergo final fit-out and certification before it is towed to the Langsa contract area in mid November once the drilling rig has completed its operations there. The 33,000 tones dead-weight FPSO vessel is capable of storing 230,000 barrels of oil, equivalent to approximately three weeks production from the Langsa

The planned first oil date is scheduled for 23 November

Matrix Oil retains a 90 percent working interest in the project. (alex)