TransGlobe reports approval of new development plan in Yemen
Canada’s TransGlobe Energy Corporation has reported a successful development well at Tasour #11 on Block 32, Yemen and approval of the Block S-1 Development Plan in the Arab Republic.
Transglobe has a 13.8 percent working interest in Block 32. The Tasour #11 well has been completed as an oil well and placed on production at an initial rate of approximately 6,000 barrels of oil and 3,000 barrels of water per day. Tasour #11 is located in the western extension of the Tasour field initially discovered by the Tasour #10 step-out well.
With the addition of Tasour #11 the Tasour field is currently producing in excess of 20,000 barrels per day (bpd). It is expected that production from the Tasour field will average approximately 16,000 bpd for the year 2004, which is consistent with the predicted natural declines for the field.
Further development drilling in the western extension is planned for 2004. The re-mapping of the Tasour field now shows a possible eastern extension, which will be tested during 2004. The anticipated average production for 2004 could increase if the planned development drilling is successful.
On October 15, 2003, the Ministry of Oil and Minerals approved the Block S-1 Development Plan and Development Area of approximately 285,000 acres. The Development Area encompasses all of the An Naeem, Harmel and An Nagyah discoveries as well as several additional prospects that could be drilled in the future. The development/production period will extend until 2023 with an optional five year extension also possible. — (menareport.com)
© 2003 Mena Report (www.menareport.com)