Gulf Oil and Gas accountACCOUNT

First Oil at Aseng Increases PA Resources Production

Source: www.gulfoilandgas.com 11/15/2011, Location: Africa

Production of oil has commenced on the Aseng Field in Block I in Equatorial Guinea. The field will contribute approximately 3,000 barrels of oil per day net to PA Resources. The Aseng project was delivered ahead of schedule and under budget.

First oil flowed from the field into the Aseng floating production, storage and offloading (FPSO) vessel on November 6, 2011. The oil production rate has steadily ramped up as 4 subsea wells have been brought online. The field is now producing approximately 50,000 barrels of oil per day gross and will contribute around 3,000 barrels of oil per day to PA Resources on a working interest basis.

Bo Askvik, President and CEO at PA Resources, comments:
“The Aseng Field increases our production and gives a considerable additional cash flow. The field will contribute approximately SEK 500 Million after costs in the first year, which increases our financial flexibility. We are very pleased with this successful project which has been delivered ahead of schedule and under budget and we congratulate the operator on achieving this significant milestone.”

First production was achieved less than 2½ years from sanction, some seven months ahead of schedule and approximately 13 percent below budget. The first tanker of oil from the Aseng field is expected to be offloaded in December 2011. The Aseng infrastructure also provides a hub to which other developments may be tied back in the future, commencing with the ongoing Alen field development which is on schedule for first production in 2013.

PA Resources has 5.7% participating interest in the Aseng Field, the operator Noble Energy 38%, Atlas Petroleum 27.55%, Glencore Exploration 23.75% and GEPetrol 5%.

Production News in Equatorial Guinea >>

Oman >>  7/19/2019 - Petroleum Development Oman’s (PDO) Rabab Harweel Integrated Project (RHIP) has entered the start-up phase with gas production from six sour wells to d...
Iran >>  7/13/2019 - Iran has awarded dozens of contracts worth $6.2 billion to domestic companies to have oil production increase by 280,000 barrels per day (bpd) as part...

Russia >>  7/9/2019 - Specialists from RN-Purneftegaz, a subsidiary of Rosneft, have implemented modern technology that improves well productivity and extends production pe...
Netherlands Antilles >>  7/8/2019 - Tulip Oil Netherlands Offshore, a wholly owned subsidiary of Tulip Oil Holding, is pleased to announce the latest quarterly Q10 Project update. ...

France >>  7/3/2019 - Total has started up production at the La Mède biorefinery in southeastern France, with the first batches of biofuel coming off the line. It is the fi...
Mexico >>  7/2/2019 - Eni has started the early production phase from the Mizton field in Area 1, located in the Campeche Bay offshore Mexico. This is the first step in the...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Equatorial Guinea Oil & Gas 1 >>  2 |

Oil & Gas Projects in Equatorial Guinea >>

More News

Related Links

AO BJ BW CD CG CI CM DZ EG EH ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.