Bankers Petroleum Increased Production 21% in 2013

Independent oil firm Bankers Petroleum reported Tuesday that production from its Patos-Marinza oilfield in Albania for the fourth quarter of 2013 averaged 19,303 barrels of oil per day – some 4.1 percent greater than that achieved during the third quarter. For the whole of 2013, the field averaged 18,169 bopd – which was 21 percent greater than 2012's average production of 15,020 bopd.

Bankers said that 40 horizontal well were drilled during 4Q 2013 in the main area of the Patos-Marinza field. The company is continuing to develop the field through pad drilling over several zones within the field's core area, with five rigs currently drilling. A sixth rig is expected to begin drilling on the field during 1Q 2014.

The company added that, through ongoing optimization of its treating process, it has significantly reduced the diluent blend of oil from 13 percent of its gross sales volume in 4Q 2012 to 8.5 percent in 4Q 2013. In the coming year, it plans to carry on with key infrastructure projects aimed at reducing cost and optimizing operations, including: field electrification, flow-lines, sour treatment facilities, tank construction and additional cascade systems.



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