New Gabon Well To Produce Oil by August
Posted: 20 June 2005
MANILA - Philippine oil explorer PetroEnergy Resources Corp. said Wednesday that production well Etame 6-H is currently being drilled to add as much as 6,000 barrels of oil a day to an oil field in Gabon by August.
PetroEnergy owns a 2.34% interest in the consortium that operates the Etame Field in West Africa, which now produces around 19,000 b/d.
"First oil of Etame 6-H is expected in August," the Philippine oil company told the stock exchange.
PetroEnergy added that an exploratory well, designated as EAVSM 1, which was drilled to test the southern limit of the Avouma discovery, "yielded negative results."
VAALCO Gabon Etame Inc. is the operator of the Etame Field, and owns 28.07% of the consortium.
(2005 Dow Jones Newswires)
Posted by Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
