West Linapacan Reserves Audit Nears Completion

Nido Petroleum Limited reported that the operator of the Service Contract 14C2 West Linapacan Block, offshore Philippines, RMA (HK) Limited has disclosed that the reserves audit undertaken by Gaffney Cline & Associates for the West Linapacan A field is nearly complete.

“While the finalization of this report has taken longer than expected I can assure Nido’s shareholders that the analysis of the reserve potential and development options for the West Linapacan “A” re-development is progressing well. I am particularly pleased with the depth and breadth of the technical and commercial studies that have been undertaken by RMA (HK) Ltd on behalf of the Joint Venture. Attention to detail at this stage of the project will pay dividends as we progress towards making a development decision,” Phil Byrne, Nido's managing director said in a company release.

West Linapacan A, which was discovered in 1990, produced 8.5 million barrels of 32 degree API oil between 1992 and 1996 before shutting due to low oil price. Peak production reached over 18,000 barrels per day (bopd). A separate structure, West Linapacan B, located 4.7 miles (7.5 kilometers) from the A structure, was drilled in March 1993 and flowed on test of the same reservoir horizon as that of West Linapacan A at a rate of 2,860 bopd.

Both fields are located in water depths of 984 to 1,148 feet (300 to 350 meters) in North West Palawan Basin and produced oil from the fractured Nido limestone reservoirs.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Malaysia's SapuraKencana Secures $113M... (Jul 26)
 -  Expro Wins $17M Well Testing Contract ... (Jul 26)
 -  Falcon O&G Provides Update on Drilling... (Jul 26)
 -  UIL, Eneabba Extend Deadline to Comple... (Jul 26)
 -  Police Probe into JKX Subsidiary Conti... (Jul 25)


Most Popular Articles

From the Career Center
Jobs that may interest you
United States Williston: Entry Level Engineer to Senior Tech Professional-
Expertise: Field Service Tech|Petroleum Engineering
Location: Williston, ND
 
United States Fort Lupton: Engineer - Frac/Acid
Expertise: Production Engineering
Location: Fort Lupton, CO
 
United States Odessa: Technical Professional Engineer - Sr. Technical Profe
Expertise: Production Engineering
Location: Odessa, TX
 
search for more jobs

Brent Crude Oil : $44.72/BBL 2.12%
Light Crude Oil : $43.13/BBL 2.39%
Natural Gas : $2.74/MMBtu 1.08%
Updated in last 24 hours