The UK and Eire-focused oil and fuel exploration, growth, and manufacturing firm, Europa Oil & Gasoline, stated that the Wressle 1 properly has began producing small quantities of water.
The corporate, which has a 30 % curiosity within the properly, stated in a media launch that the water accounted for a mean of three.72 % of the full manufacturing fluid throughout July 2023. The properly continues to free stream with out the necessity for synthetic raise and, as of the tip of July 2023, the cumulative manufacturing from the W1 properly totaled 492,876 barrels of oil, the corporate famous.
The Wressle oil discovery straddles PEDL180 and PEDL182. It lies 3.1 miles southeast of, and alongside the identical structural pattern as, the Europa-operated Crosby Warren area, which has been producing oil for nearly 30 years. Egdon maintain 30 % curiosity within the properly and is the operator, with Union Jack holding a 40 % curiosity.
With water manufacturing beginning at this late stage, Europa Oil & Gasoline says it offers additional proof that the anticipated recoverable volumes from the Ashover Grit might be on the prime finish of the estimates detailed within the impartial Competent Individual’s Report (CPR) ready by ERC Equipoise (ERCE) in 2016. The 2016 CPR forecast gross volumes from the Ashover Grit of 2P 0.54 MMstb and 3P 1.12 MMstb.
In January 2023, Europa Oil & Gasoline commissioned a brand new CPR and the work, which is being undertaken by ERCE, continues. With the arrival of water manufacturing, ERCE is revisiting the reservoir modelling and incorporating the occasion into the assorted work streams. This has delayed the completion of the report, Europa Oil & Gasoline stated.
“The contribution of formation water has been lengthy anticipated on the W1 properly and we’re ready to deal with the water. The dimensions of the oil accumulation inside the Ashover Grit formation remains to be anticipated to be on the prime finish of the unique CPR estimate and I look ahead to updating the market with the up to date reserves as soon as the brand new manufacturing knowledge has been integrated into the dynamic reservoir mannequin. This can be certain that the second growth properly is drilled within the optimum location and that the restoration fee is maximized,” Will Holland, Chief Govt Officer of Europa, stated.
The corporate has additionally not too long ago assumed operatorship of license PEDL343, which holds the Cloughton fuel discovery. Operatorship of the license was transferred from Egdon Sources to Europa Oil & Gasoline and authorised by the North Sea Transition Authority, the business regulator, with impact from July 27, 2023. The companions in PEDL343 are Europa (40 %), Egdon (40 %) and Petrichor (20 %).
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