World
  |
|
Emerald Energy says output in Colombian oil field rises in Q2
AFX/Thompsom Financial
LONDON
Petroleumworld.com 07 17 07
Emerald Energy PLC said gross output at its Colombian fields rose to 3,808 barrels per day in the second quarter from 3,508 barrels in the first quarter.In June alone, volumes averaged 3,858 barrels a day, comprising 950 barrels from the Gigante field, 1,700 barrels from Campo Rico, 700 barrels from Vigia, 500 barrels from Centauro Sur, and the remainder from the Fortuna block, the company said in a trading statement.
'The company aims to maintain gross production levels in the existing fields through the use of workovers and, where appropriate, well sidetracks, and to add to production levels through new discoveries, predominantly from the new blocks currently being explored,' it said.
The share of Colombia's state-owned Ecopetrol of production from the joint operations area in the Gigante field was increased this month from 25 pct to 50 pct as part of the cost reimbursement arrangements. Ecopetrol will pay 50 pct of the project's future operating and capital costs, it said.
In a separate statement, Emerald said it and Gulfsands Petroleum PLC have notified Syrian Petroleum Co that they have elected to extend the exploration work on Block 26.
The initial exploration period will end on August 23. The extension runs for three years and requires a minimum work obligation of 250 square kilometres of seismic survey and two wells, it said.
Gulfsands is the operator and 50 pct shareholder of Block 26. Emerald holds the remaining 50 pct through wholly-owned unit SNG Overseas Ltd.
- monicca.egoy@thomson.com
AFX 16 07 07
Copyright© 2007 AFX. All Rights Reserved.
Your
feedback is important to us!
We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com
Any
question or suggestions, please write to:
editor@petroleumworld.com
Best
Viewed with IE
5.01+
Windows
NT 4.0, '95, '98 and ME +/ 800x600 pixels