Are we getting a reserve upgrade or a reserve downgrade for the Chinguetti field??
Following is part of the announcement of HDR released on the 31 may when they warned of a production downgrade.
By the looks of it we can expect more oil and a nice upgrade in reserves.
Lets hope so
jojo
Reserves
The field Operator, Woodside, has confirmed that it has not amended its estimates of oil
reserves as a result of these recent short term production constraints. Hardman is undertaking
a reserves review with an independent third party, Netherland, Sewell & Associates Inc., to be
completed by September 2006. This review will take into account the latest data, including the
deeper-than-prognosed oil water contact, which directionally would increase the estimate of oil
in place, as well as latest mapping of reservoir sand distribution. In light of recent well
performance, additional wells are needed to recover the reserve volumes and this will involve
additional costs.
HDR
hardman resources limited
