Micael Gulbenkian, Chairman and CEO, said, "this is the first well in a development program for the Kouakouala Oilfield, which could include further development wells, work-overs of existing production wells and the installation of a water injection scheme. The goal i
s to significantly boost production and ultimate recovery from Kouakouala." The Kouakouala Field has been on production since May 2000; however, production has declined to the current level of about 900 barrels per day (bpd) from three wells. The drilling of further development wells is intended to provide improved access to reserves. Furthermore, the water injection program is intended to increase and maintain reservoir pressure, to increase well productivity and to maximize ultimate recovery from the field.
KKL-401 is a relatively low risk well in terms of its production potential because of its proximity to existing Kouakouala wells. When completed, the well will be easily tied-in to Kouakouala's central production facilities and the existing 12,000 bpd capacity export pipeline linking Kouakouala to the Djeno Export Terminal.
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