Triassic reservoir at the J50 site contains circa 8.6M barrels of light crude oil.
Assume four wells spaced 400m apart and producing 1400 BOPD in total.
Annual production would be 500,000 barrels of oil so it will take circa 17 years to drain the Triassic reservoir at this site. Payback period of 12 months per well. That's 16 years of pure profit. Who was mentioning 500+ years?
how much for 50% of block 31?, page-3
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