Australia's Woodside says Chinguetti now producing 33,000 bopd
SYDNEY (XFN-ASIA) - Woodside Petroleum Ltd said its Chinguetti oil field off the coast of Mauritania is now producing around 33,000 barrels of oil per day (bopd), having partially recovered production after encountering reservoir problems in June.
The company, 34 pct owned by Royal Dutch Shell, said commissioning issues were remedied in July.
The field, which is believed to be holding 123 mln barrels in proved and probable reserves, started pumping over 70,000 barrels of oil per day when it came on stream in late February.
Output then declined steadily before stabilizing at around 32,000-38,000 bopd.
Woodside and its partners are currently undertaking a review of the Chinguetti reserves.
Last month one of the partners indicated there could be a substantial downgrade in reserves.
Australian listed Roc Oil chief executive John Doran said it is possible reserves could be reduced by anywhere between 25 pct and 50 pct.
Woodside is the operator and has 47.83 pct stake in the field, Roc Oil has 3.25 pct, Hardman Resources Ltd, also listed in Australia, has a 19.01 pct, UK's BG Group, 10.23 pct; Premier Oil, also of the UK , 8.12 pct with the Mauritanian government holding the remaining stake of about 12 pct.
Woodside chief executive Don Voelte made the latest output statement in a presentation to North American investors.
Meanwhile, Voelte said Woodside is considering 'tying back' the yet to be developed Tiof field to Chinguetti as a phase 1 one development option.
He said Tiof could add possible capacity of around 50,000 bopd.
Voelte said production options will be reviewed but if viable Tiof production start up is possible at least two years from a final investment decision.
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