Pharos advances plan to increase Cuu Long basin production
Pharos Energy Plc is readying the first of four development wells in Block 16-1, Te Giac Trang (TGT) field, Cuu Long basin, offshore southern Vietnam.
The final two wells in the six-well sequence are expected to be included in the 2022 budget.
On completion of the full programme, gross field production is expected to increase by 5,000-6,000 b/d to about 19,000-20,000 b/d.
On Block 9-2, CNV field, Cuu Long basin, plugged perforations in two existing producing wells were acidised. Results are pending.
A 3D seismic survey will be acquired this summer over certain high graded leads in the western part of Block 125 in the moderate to deep water of Phu Khanh basin, north-east of Cuu Long basin. Results will be available in 2022.
TGT field first-half 2021 production averaged 13,401 boe/d gross and 3,976 boe/d net to Pharos. CNV field first-half 2021 production averaged 5,813 boe/d gross and 1,453 boe/d net to Pharos. The results are in line with the 5,200-6,200-boe/d Vietnam 2021 production guidance.
In Egypt, production for first-half 2021from the ten-field El Fayum concession in the Western Desert averaged 3,718 b/d.
Production levels were impacted by well maintenance issues in the year’s first half and plans are in place to accelerate production enhancement in second-half 2021. Cessation of drilling operations and maintenance, plus reduced investment in El Fayum fields since the beginning of the pandemic in March 2020, resulted in required remedial well maintenance.
The workover rig assigned to the planned nine-month Phase 1B waterflood programme has frequently been re-assigned for producing well intervention work (predominantly ESP and sucker rod pump replacements), thus delaying waterflood work. A second workover rig to return production to guidance levels is due on-site early August.
The recently drilled Batran exploration discovery well should be tested in the next quarter.
Pharos holds a 100% working interest in the El Fayum oil concession. It is operated by Petrosilah, a 50-50 JV between Pharos and the Egyptian General Petroleum Corporation (EGPC).
In Vietnam, Pharos holds a 30.5% working interest in Block 16-1 which contains 97% of TGT field and is operated by Hoang Long Joint Operating Company. Pharos is operator (70%) of Block 125.
Source: Oil & Gas Journal