Lundin Petroleum Brings Broom Field On Stream
Dow Jones Newswires, August 5
STOCKHOLM - Swedish oil and gas exploration company Lundin Petroleum AB (LUPE.SK) Thursday said its wholly-owned Lundin Britain Ltd. unit has brought on-stream the first well on the Broom field, offshore U.K.
The company said the production well, 2/05-19Y, commenced production on Aug. 3 at an average natural flow rate over 24 hours of 16,000 barrels of oil per day, 13 months after the development decision was made.
Lundin Petroleum said operations are progressing as planned, with two additional pre-drilled production wells and a water injection well to be completed along with the drilling of a further injection well.
The company said completion of the program is expected during the third and fourth quarter, and plateau oil production is expected to be in excess of 20,000 BOPD.
The field is being developed as a sub sea tieback to the Heather platform, which is situated seven kilometers to the east of Broom. The development has required significant investment to upgrade and modernize the Heather platform to accommodate the Broom production.
Lundin Petroleum said oil reserves are estimated to be 36 million barrels for the first phase of the Broom development. There are further development opportunities in the vicinity and within the Broom field concession area which currently are being evaluated. In addition the Broom development will assist substantially in extending the Heather field life.
"It's great news that the Broom field is producing oil so soon after I granted approval at Offshore Europe last year. Thursday's announcement from Lundin Petroleum is further proof that for companies with the right skills, ingenuity and determination the UKCS is still a vibrant and rewarding basin," said Stephen Timms, U.K. Energy Minister.
Lundin Petroleum is the operator with 55% working interest, with partners Challenger Minerals Inc. (CGJ.H.V) with 16% and Palace Exploration Company with 29%. |
